On October 28, 2021, we received a new decision in the Hunstein case.  Unfortunately, the decision portends more work ahead for industry. As a brief recap, the Hunstein case involves an individual claim against a debt collector.  The allegation is that the debt collector violated the Fair Debt Collection Practices Act (FDCPA) by sending specific […]

A few folks may have seen the Consumer Reports article regarding consumer lending in the vehicle finance space. The American Financial Services Association provided the publication with extensive comments and materials that, were they used, might have lent a more balanced and accurate article. Consumer Reports also declined to share its research parameters and dataset […]

The AFSA Credit Summit for Fixed Income Investors is back for 2021 and coming right to your home or office. Join finance industry executives, debt issuers, and investors virtually on Tuesday, December 7 for a fast-paced, single day conference featuring company presentations, industry updates, and networking. Finance company executives will discuss their latest operating results, […]

AFSA created the Distinguished Service Award (DSA) in 1941 to recognize individuals who contribute to the growth and advancement of the financial services industry and our association. Today, at the 2021 Annual Meeting at the Mandarin Oriental in Washington, DC. the 80th DSAs were awarded to two exceptional leaders in the consumer credit industry: Chuck […]

The 2021 AFSA Annual Meeting kicks off next week in Washington, DC and, whether you’re joining us in-person or virtually, we can’t wait to see you. AFSA has planned some thought-provoking and inspirational sessions that we think you’ll really enjoy. Keynote Carl Cannon Cannon will share his almost 40 years of political insights and experiences […]

AFSA sent a letter to the Chairmen and Ranking Members of the House and Senate Armed Services Committee regarding the National Defense Authorization Act (NDAA) legislation for 2022. The NDAA, which must pass Congress every year, is currently in process; the House has completed its version but the Senate is still working on theirs.  Both […]

On Wednesday, October 20, AFSA’s State Government Affairs (SGA) team partnered with other trade associations sent a joint letter to the Wisconsin legislature regarding AB 587 and SB 572, which prohibit interchange on the sales tax portion of electronic transactions. In the letter, AFSA and the other trade associations argued that the bills would be technically […]

On Tuesday, October 5, AFSA’s State Government Affairs (SGA) team sent a letter to the California Department of Financial Protection and Innovation (DFPI) commenting on the DFPI’s proposed Debt Collection Licensing Act (DCLA) rules. Many AFSA member companies may be required to apply for licensure under the DCLA, and clear rules that take into account […]

Today, AFSA sent a letter to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra. Mr. Chopra was confirmed as Director earlier this month. AFSA’s letter stresses the crucial role AFSA member companies play in the lives of ordinary Americans. It also speaks to the important work that the AFSA Education Foundation is doing in schools and communities […]

With increasing demands from regulators and growing complexity in operating a consumer finance company, a Chief Compliance Officer (CCO) in 2021 has a lot to manage. For this panel, moderated by AFSA’s VP of Compliance Education Philip Bohi, CCOs from a cross-section of member companies to share their perspectives on the current environment and how they […]