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AFSA Supports Access to Credit in Proposed CDFI Application
Nov 11, 2020

The American Financial Services Association (AFSA) emphasized the importance of preserving access to credit in response to the Department of Treasury (Treasury) and Community Development Financial Institutions’ (CDFI) Fund revised CDFI certification application proposed by the respective agencies. CDFIs are private financial institutions which offer affordable financial products and services to low-income and disadvantaged communities. […]

CFPB Report Examines Servicemember Debt
Nov 10, 2020

The Consumer Financial Protection Bureau (CFPB) yesterday (November 9) released a report showing that a “sizeable fraction of young enlisted servicemembers go delinquent on debt payments or have severe derogatories (for example, defaults) on their credit record around the time they leave active duty.” The report, entitled Debt and Delinquency After Military Service looked at […]

LISTEN | AFSA Extra Credit Podcast w/ AFSA Chair Tom Hudgins
Nov 10, 2020

In this episode of the AFSA Extra Credit Podcast we talk with Tom Hudgins, 2021 AFSA Chair and President & COO of Western Shamrock. Tom has been an integral part of AFSA leadership for many years and has served on many committees and working groups. His counsel and expertise have helped AFSA continue the important […]

The CFPB Debt Collection Rule: Compliance Considerations
Nov 09, 2020

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 […]

Auto Loan Accommodations: Insights from the Past, Applications for the Present
Nov 06, 2020

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 […]

AFSA Requests TCPA Exemptions for Consumer Finance Industry
Nov 05, 2020

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 […]

Start Your Engines for the 2021 Vehicle Finance Conference!
Nov 04, 2020

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 […]

CFPB Issues Final Rule Amending Disclosure of Records and Information Regulation
Nov 03, 2020

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 […]

OCC Adopts AFSA’s Suggestions, Finalizes ‘True Lender’ Rule
Nov 02, 2020

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 […]

November Business Partner Spotlight: GOLDPoint Systems
Nov 01, 2020

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 […]

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