AFSA’s State Government Affairs team recently submitted a comment letter on California’s Department of Financial Protection and Innovation Debt Collection Licensing Act. AFSA and the California Financial Services Association (CFSA) provided comments to the Department of Financial Protection and Innovation (DFPI) regarding the proposed scope rule under the Debt Collection Licensing Act. While appreciating steps toward clarification, we remain primarily concerned […]

A recent working paper issued by the Federal Reserve Bank of New York, Less for You, More for Me: Credit Reallocation and Rationing Under Usury Limits, delves into the age old question of the efficacy of usury limits, i.e., interest rate caps. The study focuses on three states (South Dakota, North Dakota, and Illinois) that implemented […]

​Earlier this week AFSA submitted comments on the CFPB’s proposal to change small business lending data collection requirements established under Section 1071 of the Dodd-Frank Act (the 1071 Rule). This proposal contemplates streamlining data collections and establishing a simplified compliance date structure applicable to all affected lenders. The proposed compliance date will be January 1, 2028. AFSA was engaged […]

AFSA is pleased to support the bipartisan Housing for the 21st Century Act, which will boost housing supply, improve affordability, and streamline existing regulations for millions of Americans. Thanks to House Financial Services Committee Chairman French Hill (R-AR), Ranking Member Maxine Waters (D-CA), Housing and Insurance Subcommittee Chairman Mike Flood (R-NE), and Ranking Member Emanuel Cleaver […]

AFSA’s Consumer Credit Conditions (C3) Index for the third quarter of 2025 revealed a challenging quarter for consumer lenders offset by growing optimism about business conditions over the next six months. The survey of AFSA member companies shows current business conditions turned slightly negative in Q3, with a Net Improving Index (NII) of -5.9. This […]

In a new letter to President Trump and congressional appropriations committee leaders, the CFPB’s Acting Director Russell Vought wrote that the Bureau will need $279 million next year to maintain its required activities. This request comes on the heels of the Justice Department’s Office of Legal Counsel declaring the current CFPB funding mechanism from the Federal Reserve is illegal. The DOJ argues that the […]

“Industry Expertise” is sponsored content produced by AFSA’s Business Partners’ to provide thought leadership and best practices for AFSA member companies. For more information about this sponsored content opportunity, contact Dan Bucherer. How Lenders Can Innovate with AI Without Increasing Regulatory Risk Every day, risk tightens its grip on auto lending. Loss forecasts and overall efficiencies […]

We appreciate the American Banker’s coverage of our exclusive Consumer Credit Conditions (C3) Index, which we release quarterly. The C3 Index is designed to highlight the crucial role the consumer credit industry plays in the broader American economy and reflects the outlook of our participating members whose lending connects consumers with the millions of businesses they purchase from. […]

AFSA Chief Economist Tim Gill recently took part in a panel discussion on economic and automotive industry trends at Used Car Week 2025. The panel “Inside Automotive & the Economy,” was moderated by Nick Zulovich of Cherokee Media Group and Tim was joined by representatives from by Black Book, CarGurus, and TransUnion. Tim’s remarks highlighted […]

Clarity and certainty in the public policy space has long been a priority for the American Financial Services Association, which is why we appreciate the recent nomination of Stuart Levenbach to serve a five-year term as director of the Consumer Financial Protection Bureau. This announcement is another welcome step in the administration’s ongoing efforts to […]