As we approach the close of 2020, I want to provide an update on the many successes of the AFSA Education Foundation. Most importantly, I thank our AFSA members for their support. In 2020, the foundation marked its 30th anniversary. To celebrate this significant milestone, we conducted a successful radio media tour in February, which […]

This week, AFSA responded to the Consumer Financial Protection Bureau’s (CFPB) request for information (RFI) on identifying ways to prevent credit discrimination under the Equal Credit Opportunity Act (ECOA) and expand access to credit for underserved communities. The association’s letter explained, “AFSA and its members support the Bureau in its mission to create a regulatory […]

This week, Federal Reserve (Fed) Chairman Jerome Powell and U.S. Treasury Secretary Steven Mnuchin testified before the Senate Banking Committee and House Financial Services Committee to discuss the federal government’s response to the coronavirus crisis. Both hearings centered around the state of economic recovery, the spike in COVID-19 cases, and a controversial decision by Secretary […]

This week, the Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation issued a statement encouraging banks to transition away from the U.S. dollar (USD) London Interbank Offered Rate (LIBOR) in a timely manner. LIBOR is used globally as a short-term interest […]

Join us TOMORROW at 2:00 p.m. ET for Auto Loan Accommodations: Insights from the Past, Applications for the Present, presented by TransUnion The COVID-19 pandemic significantly impacted consumers and businesses, and the auto industry is one of many that provided deferral and forbearance programs on existing loans. What will the pandemic’s long-term effects mean for the auto finance […]

The featured business partner for the month of December is Dealertrack. Dealertrack provides innovative technology that is critical to the success of any automotive dealership or lending institution. Our unmatched product suite fosters efficiency through integration and enables growth-focused decision-making that yields measurable results. The powerful combination of Dealertrack products and our large-scale network of […]

In this episode of the AFSA Extra Credit Podcast we talk with Jonathon Levin, CEO of Turner Acceptance about what his company has done to maintain high quality customer service during the COVID-19 pandemic. He also shared some of the important lessons he’s learned during his time as a leader in the consumer credit industry. Jonathon also talks […]

In observance of the Thanksgiving holiday, AFSA will be closed on Thursday, November 26 & Friday, November 27. As always, the AFSA team will remain vigilant and will keep you informed of any breaking news of import to the industry. From everyone at AFSA, we hope that you and your loved ones have a safe […]

This week, the American Financial Services Association (AFSA) and industry trade associations met with the Federal Communications Commission’s (FCC) Consumer and Governmental Affairs Bureau regarding proceedings before the FCC arising from the Telephone Robocall Abuse Criminal Enforcement and Deterrence (TRACED) Act. Signed into law in 2019, the TRACED Act targets illegal and unwanted robocalls, most […]

Last week, AFSA staff attended the Consumer Financial Protection Bureau’s (CFPB) virtual advisory committee meetings at which members discussed the agency’s recent initiatives and rulemakings, along with broader discussions on COVID-19-related trends in the mortgage market. Specifically, the meeting included discussions on implementing Section 1071 and Section 1033 of the Dodd-Frank Act. Section 1071 requires […]