AFSA is pleased to announce L. Jean Noonan, former head of the FTC’s enforcement division and longtime leader in the consumer credit industry, as a keynote speaker at the 2021 Independents Conference & Expo. Noonan is a partner at Hudson Cookwhere she advises clients on consumer financial services, fair lending, marketing, financial privacy, and consumer protection matters. She is a former […]

The American Rescue Plan (ARP), which was signed by President Biden on March 11, has two additional tax credits that may me of interest to AFSA members. Employee Retention Credit The ARP includes an extension of the Employee Retention Tax Credit (ERTC) through December 31, 2021. Originated in the CARES Act, the ERTC encourages businesses […]

The American Financial Services Association (AFSA) and its members who work to serve consumers in Illinois, are deeply disappointed with the governor’s decision to sign legislation that will hinder tens of thousands of Illinois consumers from accessing the credit they need during this time of economic disruption. The 36% rate cap that policymakers and consumer advocates have claimed will protect consumers in Illinois will actually harm […]

Don’t get caught in the manual processes of 2020, it’s time to digitize. Featuring real-life examples to show the end to end car buying experience from the perspectives of the lender, borrower, and dealer. Learn what it means to digitize in the auto finance sector, and how it can be achieved. During this presentation, Shim […]

WASHINGTON, DC, March 22, 2021 – The American Financial Services Association has announced the installation of Sandra Broderick, Head of Operations, Santander Consumer USA, as the 2021 AFSA Vehicle Finance Division Chair. Broderick is the Head of Operations at Santander Consumer USA, and is responsible for aligning scope, priorities and approach across U.S. operating units […]

On March 16, AFSA submitted a letter to Speaker Nancy Pelosi (D-CA) and Minority Leader Kevin McCarthy (R-CA) expressing its strong support for the bipartisan-backed Secure and Fair Enforcement (SAFE) Banking Act of 2021. Sponsored by Representatives Ed Perlmutter (D-CO), Nydia Velázquez (D-NY), Steve Stivers (R-OH) and Warren Davidson (R-OH), the SAFE Banking Act ends […]

On March 16, AFSA sent a letter to the Connecticut Joint Banking Committee raising concerns with SB 745, which would create a new set of disclosures that commercial lenders would be required to provide borrowers at the time credit is initially offered. The requirements of the bill would apply to floorplan lenders who play an […]

When it comes to laws and regulations around consumer credit, some policymakers, as the saying goes, seem intent on killing a fly by burning down the house.  Sure, you address the issue, but consider all that ancillary damage. That’s the point made in a recent op-ed by Jared Kaplan, CEO of OppFi, in the American […]

The automotive industry has faced its share of obstacles and uncertainty over the last 12 months, from the pandemic itself, the rush to implement digital retailing solutions and accommodating the consumer through new and redefined dealership best practices. Illustrated through some recent consumer research Market Scan conducted, we will discuss how digital retailing is challenging […]

Last week, the House Financial Services Subcommittee on Consumer Protection and Financial Institutions held a hearing with several advocacy groups and coalitions to examine policy options to help consumers through the pandemic. Several panel witnesses indicated that there has a been an increase in collection activities associated with vehicle repossessions. This simply is not true. […]