It has been a busy week as legislators make the most of this year’s extra day. Surprise announcements, important roundtable discussions, funding deals, and legislative markups have ensured that Leap Week 2024 has not been boring. The End of an Era: Sen. Mitch McConnell (R-KY), the longest-serving Senate leader in history, announced yesterday that he would be […]

Recently, the CFPB ordered federal supervision for an installment lender and another installment lender agreed to supervision. Federal supervision is unnecessary as traditional installment lenders are supervised in each state in which they do business. It also highlights the random and unclear regulatory environment our members find themselves in at the federal level. As background, […]

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Last Thursday, the AFSA Education Foundation (AFSAEF) collaborated with the National Math Foundation (NMF) to host a webinar, Math Matters in Life: Personal Finance and Future Success. Nearly 200 math and personal finance educators and others registered to learn practical insights for K-12 instructors and to strengthen the connection between math and personal finance in […]

This week, AFSA provided information to the Department of the Treasury on how our members are promoting financial inclusion for the American consumer. The Presidential Commission for Financial Inclusion at U.S. Treasury Department is developing a national strategy for financial inclusion, and AFSA endorsed its formation and has been engaged with this project since its inception. […]

AFSA is pleased to confirm that two-time NBA champion, college All-American, and award-winning broadcaster Kenny Smith will serve as the 2024 Champions Club keynote speaker at the 2024 Independents Conference and Expo. Known throughout his basketball career by the nickname “The Jet,” Kenny Smith today co-hosts the top-rated “Inside The NBA,” alongside Charles Barkley, Ernie Johnson […]

AFSA’s February State Government Affairs white paper is now available. This month’s white paper delves into vehicle data privacy. As the prevalence of vehicle automation and data processing rises in the automotive industry, the use of this data will increasingly attract attention from regulators, consumers, and industry stakeholders. While only a few states have developed comprehensive privacy guidelines specifically addressing vehicle data, privacy concerns […]

As of yesterday, both the House and the Senate are in “recess” for the upcoming week of President’s Day. A quick glance at the congressional calendar for the year shows that about twenty recess weeks, or state work periods, are scheduled for 2024. This number is a little higher than normal due to the presidential election, […]

Last week, the State Government Affairs team at AFSA sent a comment letter to the New York Senate regarding the proposed regulations for the New York Junk Fee Prevention Act. In the letter AFSA highlights concerns with the proposal and its wide-ranging scope and ambiguous wording which creates uncertainty for financial services. The letter expresses that […]

Consumer credit balances reached a record $17.5 trillion in the fourth quarter of 2023, according to the Federal Reserve Bank of New York’s latest Quarterly Report on Household Debt and Credit, which draws on data from the bank’s Consumer Credit Panel and Equifax. That was an increase of $212 billion, or 1.2 percent, from the third quarter and […]