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Disregard non-AFSA Solicitations
Dec 22, 2020

AFSA is aware of several scam companies and individuals posing as AFSA staff members offering a variety of professional contact lists. Many of the most recent messages offer discounted contact lists for upcoming conferences. You should disregard these messages.  Attendee lists are made available to registered attendees only. AFSA does not and will never, sell conference attendee contact lists. If you see […]

Mass. High Court Issues Opinion in State-mandated Default Notice Case
Dec 18, 2020

AFSA is sharing the below case summary with members with permission from K&L Gates. The original can be found here. AFSA signed onto a joint amicus brief in this case available here.  THE MASSACHUSETTS SUPREME JUDICIAL COURT HOLDS STATE-MANDATED DEFAULT NOTICE NOT INACCURATE OR DECEPTIVE By: Andrew C. Glass, Gregory N. Blase, Hollee M. Boudreau […]

FDIC Finalizes ILC Rules
Dec 18, 2020

This week, the FDIC finalized a rule to require certain conditions and commitments for each deposit insurance application approval from an industrial bank or industrial loan company (ILC) whose parent company is not subject to consolidated supervision by the Federal Reserve Board. According to the FDIC, the rule will accomplish two important goals: “1. Ensure […]

AFSA Supports Remote Online Notarizations
Dec 17, 2020

Today the American Financial Services Association (AFSA) joined several other financial services trade associations and organizations in a letter urging Congressional leaders to include the bipartisan Securing and Enabling Commerce Using Remote and Electronic Notarization Act (SECURE Notarization Act) in a future emergency COVID-19 relief legislative vehicle. Introduced by Representatives Madeleine Dean (D-PA) and Guy […]

LISTEN | CFPB’s Mark McArdle on Mortgage Resources
Dec 17, 2020

In this episode of the AFSA Extra Credit Podcast, we speak with Mark McArdle, Assistant Director, Mortgage Markets with the Consumer Financial Protection Bureau (CFPB). Mark handles several different areas within the mortgage markets team at the Bureau, including facilitating the Bureau’s assumption of the Home Mortgage Disclosure Act (HMDA) reporting, developing options around the Ability […]

AFSA Comments to CFPB on Payday Loan Disclosures
Dec 16, 2020

This week, the American Financial Services Association (AFSA) commented on the payday loan disclosures designed by the Consumer Financial Protection Bureau (CFPB). AFSA emphasized that the definition of “payday loan” should be included in all the documents, especially in the “Initial Screener” questionnaire and the “Introduction of the Interview” transcript, to avoid the possible inclusion […]

WATCH | Essentials for Success in the New Economy: Gaining ROI on Digital Strategies
Dec 16, 2020

Join us TOMORROW at 2:00 p.m. ET for Essentials for Success in the New Economy: Gaining ROI on Digital Strategies, presented by The shift to digital financial services has been happening for years, but COVID has been a reality check for firms to create a high-touch digital experience to stay competitive. Without clear line-of-sight into how the […]

AFSA Comments on Small Business Lending Rulemaking
Dec 15, 2020

“Small businesses are crucial to the American economy and to the millions of Americans who run them, are employed by them, and who patronize them,” AFSA wrote to the CFPB this week, adding, “Credit availability, in turn, is critical to the well-being of small businesses. Without credit, many small businesses would close.” AFSA’s comments were […]

AFSA Comments on PACER Access Legislation
Dec 14, 2020

The American Financial Services Association (AFSA) today submitted a comment letter to Judiciary Committee Chair Lindsey Graham (R-SC) urging that he amend H.R. 8235 the Open Courts Act. The bill, as drafted, would allow free access to the Public Access to Court Electronic Records (PACER) database. AFSA supports public access to the PACER system but […]

AFSA Advocacy Successful in House-passed NDAA
Dec 11, 2020

This week, the U.S. House of Representatives overwhelmingly passed the National Defense Authorization Act. President Trump has threatened to veto the bill citing  its lack of legislative language removing legal liability protections for social media companies. The House vote was 335-78, which is above the two-thirds threshold needed to override a Presidential veto. The annual defense measure is considered “must pass,” and the Senate is expected to approve it next week before it heads to the […]

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