Last week, the Consumer Financial Protection Bureau named two new leaders in the supervision and enforcement departments of the Bureau. Lorelei Salas will join the CFPB as Assistant Director for Supervision Policy and will also serve as the Acting Assistant Director for Supervision Examinations. From 2016 to 2021, Ms. Salas served as Commissioner of the […]

In this episode of the Extra Credit Podcast, we chat with Solomon Semere, Senior Director, Credit and Marketing Strategy and Craig Stockum, Sales Director both with LexisNexis Risk Solutions about the uncertain risk environment in which we’re currently operating. Specifically, Craig and Solomon touch on some driving trends that are affecting consumer demand and market opportunities and what lenders need to do to […]

Please join AFSA’s Diversity & Inclusion Working Group webinar on November 10 at 3:00 p.m. ET to hear from Brittany Young about how to help build better communities and empower people. Brittany is a Baltimore native with a diverse technical and employment background which includes McCormick & Co., NASA, JHU APL, and Key Technology Inc., […]

Last week, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra testified before the Senate Banking and House Financial Services Committees in separate oversight hearings. The discussions spanned a variety of topics, including the scope of the CFPB’s rulemaking and regulatory authorities, as well as the emergence of large technology companies in the consumer finance space. […]

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, […]

The Federal Trade Commission (FTC) has issued its final Safeguards Rule, as AFSA mentioned was likely at our Annual Meeting this past week. The Safeguards Rule was mandated by Congress under the 1999 Gramm-Leach-Bliley Act. The first rule was issued in 2002 and became effective in 2003. In 2019 the FTC issued a Notice of […]

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 […]