On July 18, AFSA submitted comments on an information collection notice from the Department of Defense relating to the Military Lending Act. AFSA has been active on Military Lending Act issues for several years. We have followed the twists and turns of regulatory policies that have had significant effects on the availability of credit to […]

On July 18, 2025, AFSA submitted a comment letter to the CFPB regarding the compliance dates for the section 1071 rule on small business lending data collection. This rule has been subject to litigation, and the CFPB decided it was prudent to extend the compliance date for all covered lenders, thereby eliminating the different timelines […]

On July 18, 2025, AFSA submitted a comment letter regarding the CFPB’s plan to make changes to how it uses money collected from fines imposed on financial institutions. Previously, the money collected in fines was placed in the Civil Penalty Fund. From there, the money might go to making consumer’s whole or be allocated to […]

Join us Thursday, July 24th at 2:00 p.m. EST! In today’s competitive lending environment, standing out locally is more critical than ever. While Fintechs leverage speed and scale, traditional and nonbank lenders have a powerful asset they often underutilize: their local branch presence. This webinar explores how branch-level marketing is evolving—and how you – as […]

In this episode of the AFSA Extra Credit Podcast, host Dan Bucherer chats with Stephen McDaniel, CEO of F&I Sentinel, about a critical question: why do so many F&I product refund solutions fail? Stephen and Dan explore the complexities of the refund process and the real-world consequences for lenders who don’t get it right. They […]

The FDIC unanimously voted today (July 15) to withdraw its Parent Companies of Industrial Banks and Industrial Loan Companies (ILC) proposed rule issued in August 2024. As drafted, the proposed rule discouraged future applications and targeted many existing ILCs that provide an essential source of capital for small businesses and consumers, including helping to fill financial gaps in underserved […]

AFSA’s State Government Affairs recently released its July white paper that examines growing concerns about the “true lender” doctrine and state efforts to curb evasion of interest rate caps through bank-fintech partnerships. While banks can legally export interest rates under federal law, some states argue that non-bank partners effectively act as lenders and are using these partnerships to bypass state usury laws. In response, several states […]

The recently signed “One Big Beautiful Bill” (OBBB) is a sprawling piece of legislation that will affect just about every facet of the American economy, including the financial lives of consumers.  While many AFSA members were focused on the bill’s halving of the CFPB’s funding, another OBBB provision may enhance consumer financial flexibility and serve […]

Join us Thursday, July 24th at 2:00 p.m. EST! In today’s competitive lending environment, standing out locally is more critical than ever. While Fintechs leverage speed and scale, traditional and nonbank lenders have a powerful asset they often underutilize: their local branch presence. This webinar explores how branch-level marketing is evolving—and how you – as […]

The Senate passed the budget reconciliation legislation (commonly called the “One Big Beautiful Bill) by a vote of 51-50 today (July 1), with Vice President JD Vance giving the Republicans the tie-breaking vote for final Senate passage.  The bill will go back to the House of Representatives to be voted on quickly before adjourning for […]