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Disregard non-AFSA Solicitations
Aug 31, 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 lists because of the need to cancel/postpone many meetings. You should disregard these messages.  The best way to determine if an email message is from an AFSA staff member is to look at […]

AFSA Submits RFI on Texas Consumer Protection Law
Aug 27, 2020

On August 21st AFSA’s State Government Affairs (SGA) team sent a letter to the Texas Privacy Protection Advisory Council in response to the council’s request for information from industry stakeholders. The five-member council was created by HB 4390 in September 2019 and must submit recommendations on statutory changes regarding consumer privacy by September 1, 2020. […]

ACI on the Value of AFSA Membership
Aug 26, 2020

Over the last several weeks, we’ve spoke about the value of our Business Partner membership and the impact it has on our members. Here is another testimonial from a Business Partner member. ACI Worldwide, another valued member, says that AFSA’s “member base is a perfect match with ACI’s targeted and existing consumer finance customer base, particularly in the auto and consumer lending […]

AFSA Supports CFPB’s Advisory Opinion Program
Aug 24, 2020

AFSA submitted a letter on Friday in support of the Consumer Financial Protection Bureau’s (CFPB) proposed advisory opinion program. The program would allow financial institutions to submit questions to the CFPB on areas where regulatory uncertainty exists. The CFPB’s goal is to better enable compliance in the face of regulatory and statutory uncertainty. AFSA agrees with the […]

Colorado Bank Partnership Lawsuits Settled
Aug 21, 2020

The Attorney General of Colorado announced that the state has reached a settlement in two bank partnership lawsuits (Fulford v. Avant of Colorado, LLC and Fulford v. Marlette Funding, LLC). At the core of the lawsuit was the alleged partnership between several nonbanks with out-of-state banks. Under federal law, national banks and state-chartered banks can lend in […]

In Their Own Words: PayNearMe on the Value of AFSA Membership
Aug 20, 2020

The American Financial Services Association is the premier consumer credit trade association in the country offering its members support and services that help them to continue to offer their consumers reliable, high-quality credit access. AFSA business partners play a key role in helping the association do just that. AFSA Business Partner members also realize a […]

Bringing Expertise to You: AFSA’s Virtual Conference
Aug 19, 2020

AFSA is building a stellar virtual experience for attendees and Business Partners at the 2020 Virtual Annual Meeting & Independents Conference & Expo, running from Oct. 6-8, 11a.m.-2 p.m. each day. The association is pleased to welcome two excellent keynote speakers; former Consumer Financial Protection Bureau (CFPB) Director Richard Cordray and Echelon Insights co-founder Kristen […]

Remembering Charlie Walters
Aug 18, 2020

AFSA was saddened to learn of the death of Charlie Walters on Sunday, August 16. For those of us in the AFSA family, Charlie was a leader of our association and our industry, and a larger than life figure whether in a board room or at an AFSA conference. Charles Daniel Walters’ life-long career in […]

AFSA Seeks Veto on NY Floorplan Lending Bill
Aug 17, 2020

The American Financial Services Association along with several AFSA members is seeking a veto or a chapter amendment to legislation recently passed by both chambers in New York. AFSA communicated with both the Assembly and the Senate in advance and has reached out directly to New York Governor Andrew Cuomo about Senate Bill S5470B, which […]

Fed Report Echoes AFSA: Rate Caps Restrict Credit
Aug 13, 2020

The Federal Reserve Board of Governors on August 12 released an extensive study entitled The Cost Structure of Consumer Finance Companies and Its Implications for Interest Rates: Evidence from the Federal Reserve Board’s 2015 Survey of Finance Companies. The study, authored by Lisa Chen and Gregory Elliehausen, confirms and expands on what AFSA has been saying for decades: […]

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