This month, the House is scheduled to vote on a slate of financial services bills related to corporate governance, including political activities, climate risks, and employee pay disclosure. Below is a summary of the legislation, which we expect will pass. However, the future of these bills in the Senate is much less certain. H.R. 1187 […]

This is the first edition of AFSA’s State of Credit Series as Danielle Fagre Arlowe, Senior Vice President and head of the State Government Affairs team speaks with regulators from around the country. We’ll make our way through all 50 states getting to know the regulators that are part of our industry. In the inaugural […]

AFSA’s State Government Affairs Team recently published a white paper covering payday lending databases. The paper highlights state efforts to create databases of outstanding loans for payday lenders and the issues associated with these databases when extended to other forms of credit, including traditional installment loans.  Lawmakers across the country have turned to payday lending databases as a […]

On June 2, the Illinois Financial Services Association and AFSA jointly filed a lawsuit against the State of Illinois and the Illinois Department of Financial and Professional Regulation (DFPR) in the Circuit Court of Cook County over SB 1792 / Public Act 101-0658, the “Predatory Loan Prevention Act,” which took effect on March 23. Although the act’s stated purpose is to protect consumers, its provisions will leave Illinois consumers worse off by limiting the availability of safe and affordable forms […]

This week, AFSA and six other trade associations joined together in a brief asking that the 11th Circuit Court of Appeals review a decision made by a panel of the court’s judges. The case, Hunstein v. Preferred Collection and Management Servs., Inc., has serious implications for the financial services industry. “En banc review is required […]

Last week, CEOs from the largest U.S. banks testified before the Senate Banking and House Financial Services Committees about several topics, including proposals for a federal 36% rate cap on all loans. In the Senate Banking Committee hearing, Senator Jack Reed (D-RI), who is leading efforts on a rate cap bill alongside Banking Chairman Sherrod […]

The session recordings from the 2021 Independents Conference & Expo are now available to registered attendees. Listen to the keynote, general sessions and breakouts, right from the AFSA LIVE(stream) page. WATCH

The featured Premier Business Partner for June is FIS. FIS™ is the world’s largest global provider dedicated to financial technology solutions. FIS empowers the financial world with software, services, consulting and outsourcing solutions focused on retail and institutional banking, payments, asset and wealth management, risk and compliance, trade enablement, transaction processing and record-keeping. FIS’ more […]

Rather than facing a crushing wave of defaults, many banks and credit unions are experiencing above average deposits and flush reserves. Lenders who expected to hunker down and mitigate losses find themselves instead in a race to spur loan growth and find more good borrowers. But the events of the past 14 months have scrambled […]

AFSA was pleased to welcome members and friends back for the 2021 Independents Conference & Expo. Virtual attendees were also able to tune in to the conference session via the AFSA LIVE(stream) sponsored by REPAY. A variety of boards, committees and working groups met in-person for the first time in over a year to discuss key […]