Join us on November 17 at 1:00 p.m. ET for The CFPB Debt Collection Rule: Compliance Considerations, presented by Hudson Cook & Weltman. The CFPB has issued its first of two anticipated final rules on debt collection.  While the rule is based on the Fair Debt Collection Practices Act, its scope is limited to third-party debt […]

Join us on December 3 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 […]

The American Financial Services Association (AFSA) replied to the Federal Communications Commission’s (FCC) proposed rulemaking regarding certain exemptions under the Telephone Consumer Protection Act (TCPA) for companies making calls to their customers. In a comment letter to the FCC, AFSA wrote in support of two current exemptions: (1) Non-commercial calls to a residence (Informational Calls […]

AFSA is excited to announce that the 2021 Vehicle Finance Conference will be held online from February 23 through February 25; AFSA committees will meet the preceding week, February 16 through February 18 (more details to come). Each day will feature three hours of fast-paced and informative keynotes, plenary and breakout sessions, along with engaging networking opportunities. Attendees can expect the […]

The Consumer Financial Protection Bureau (CFPB) finalized a rule amending its Disclosure of Records and Information Regulation. In the rulemaking, the CFPB addresses the confidential treatment of information the agency obtains while exercising its statutory authority to enforce federal consumer financial laws.   Specifically, the final rule revises the agency’s information practices, enhances collaboration efforts with agency […]

This week, the Office of the Comptroller of the Currency (OCC) finalized the “true lender” rule. At issue is partnerships between third-party nonbanks and federal savings associations or national banks which have led to loans being underwritten at interest rates exceeding other states’ rate caps. Consumer groups have been critical of these partnerships, citing that […]

The featured Business Partner for November is GOLDPoint Systems, which offers one of the most complete Loan Management Software Systems in the Direct and Indirect market, covering the complete loan life cycle. We asked them a few questions about their business and what they’re seeing in the economy. What is the most important issue facing […]

For the first time in the Fair Debt Collection Practices Act’s (FDCPA) 40-plus-year history, a regulatory agency has issued rules under the statute.   The new rulemaking, issued by the Consumer Financial Protection Bureau (CFPB), focuses on debt collection communications, and it is intended to give consumers more control over how often and through what means debt collectors communicate with them regarding their debts.   […]

AFSA’s State Government Affairs (SGA) team recently sent a letter to the California Department of Business Oversight (DBO)—now renamed the Department of Financial Protection and Innovation—to provide comments on the department’s recently proposed rules for commercial financing disclosures. The rules implement a law enacted by the legislature in 2018 that created significant new disclosure requirements for commercial […]

AFSA’s State Government Affairs (SGA) team recently published model legislation that would permanently authorize employees of licensed entities to work from home without the need of a branch license. Since the start of the COVID-19 pandemic, 44 states and the District of Columbia have provided guidance allowing employees of licensees to work remotely without the […]