AFSA’s State Government Affairs team submitted a comment letter to the New Jersey Senate regarding S1310, which would permit specific for-profit debt adjusters to be licensed for conducting business in the state. AFSA expresses concerns for the effect this bill would have on its members and their customers in New Jersey, by approving “debt adjusters” […]

This week, AFSA joined other organizations in expressing concerns with the American Privacy Rights Act (APRA) as drafted. AFSA supports a national standard for data privacy, but the legislation in its current form would not best serve consumers. The letter highlights the importance of including full preemption in any national privacy framework. Full preemption is essential […]

“We shall overcome because the arc of the moral universe is long, but it bends toward justice.”  –Dr. Martin Luther King Jr.  Juneteenth is a commemoration of the ideals of equality, justice, and freedom, which we strive to perfect for all. In America’s history there have been many moments of success and many moments of failure […]

Today, the CFPB released a “Data Spotlight,” which focused on an analysis of negative equity data from a group of auto finance entities. As background, in February 2023 the Bureau announced a pilot data project and issued nine market monitoring orders to auto lenders. This report is the first in a series using data from […]

This week, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra testified before the Senate Banking Committee and the House Financial Services Committee for his semi-annual report to Congress. In both, Director Chopra focused his opening remarks on CFPB actions in the financial data space, including alluding to an upcoming proposed rule under the Fair Credit […]

The Consumer Financial Protection Bureau (CFPB) today announced a Notice of Proposed Rulemaking(NPRM) aimed at addressing the reporting of medical bills on credit reports. This initiative follows the CFPB’s September 2023 announcement to explore options for restricting such reporting practices. The CFPB’s NPRM highlights the importance of accurate credit reporting that ensures both a safe […]

The featured Business Partner for the month of June is Fortegra. For more than 40 years, Fortegra and its subsidiaries have delivered risk management solutions that help people and businesses succeed in the face of uncertainty. Our diverse and comprehensive product offerings continue to provide growth opportunities for our partners. In addition to our Credit […]

Today, the Consumer Financial Protection Bureau finalized a proposal to create a nonbank registry related to enforcement matters. The final rule requires certain nonbank entities to register information about their company and certain orders and to submit copies of those orders to the CFPB. The Bureau is also requiring certain supervised nonbanks to file annual […]

Alfa, a leading provider of enterprise software for the automotive finance industry, has announced the release of Scalability, the fourth of six releases that make up Alfa Systems 6 – a breakthrough iteration of its Alfa Systems software platform. Providing “truly always-on, financially coherent operation – without restriction”, Scalability in Alfa Systems 6 presents leading-edge […]

Today, the U.S. Supreme Court handed down its ruling in the much-anticipated Consumer Financial Protection Bureau (CFPB) v. Community Financial Services Association of America (CFSA) case that challenged the CFPB’s independent funding mechanism through the Federal Reserve. The American Financial Services Association joined with other trades in an amicus brief arguing that the Bureau’s “funding scheme […]