Sponsors in the U.S. Senate of the latest national rate cap bill apparently aren’t clear on the concept of holiday giving. The goal should be to give a gift, not take things away. Yet that is what Sen. Jack Reed’s “all-in” 36% APR cap legislation would do:  take away access to much needed credit for […]

Yesterday’s decision by the Federal Reserve to hold the short-term interest rate steady for the third consecutive meeting at a range of 5.25 to 5.5 percent came as no surprise. Indeed, financial markets had consistently in recent weeks put the odds of a continued pause at more than 99 percent. What was unexpected was a […]

Due to some surprising announcements and actions in the past few weeks, Congressional math will look different after the New Year. As Congress heads into 2024, an election year, here are the most recent changes to the House of Representatives makeup and what it might mean for the future. The House voted to expel Republican […]

The Federal Trade Commission (FTC) released a final rule related to vehicle shopping yesterday. AFSA and the Consumer Bankers Association (CBA) submitted a comment letter on the proposed rule in September 2022. We are pleased that a few of AFSA’s comments, mainly relating to the definition of “dealer,” were adopted in the final rule. At […]

AFSA is pleased to announce Robert H. Kurnick, Jr., Vice Chairman of the Penske Corporation and President of Penske Automotive Group, Inc., as the Industry Keynote speaker at its 2024 Vehicle Finance Conference and Expo.   Kurnick, whose career with the Penske organization spans almost three decades, leads a global, highly diversified transportation services company, […]

Earlier this week AFSA encouraged other trade organizations to join a letter requesting that President Joe Biden support clear rules of the road in the financial services industry that take into account both the benefits and costs of regulation. The letter highlighted that large and small financial institutions alike share the Consumer Financial Protection Bureau’s […]

Last week, Congress returned from the Thanksgiving holiday recess and CFPB Director Rohit Chopra testified before the House Financial Services and Senate Banking Committees. While most of the conversation centered around supporting or arguing against the constitutionality of the Bureau, there were plenty of moments when AFSA’s advocacy efforts broke through. Below are key moments […]

AFSA’s Industry Expertise allows Business Partners to provide thought leadership and best practices information directly with AFSA member companies. For more information about taking part, contact Dan Bucherer. Behind the Wheel: Allied Solutions Reflects on Used Car Week By: Suzi Straffon, Director, Finance Company Markets | Allied Solutions Used Car Week was held in Scottsdale, AZ […]

The featured Business Partner for the month of December is PayNearMe. PayNearMe is the modern, reliable payments platform that facilitates debit, credit, ACH and mobile-first payments, including Cash App, PayPal, Venmo, Apple Pay and Google Pay for thousands of businesses and government agencies nationwide. PayNearMe also has the most convenient cash payment network, enabling consumers […]

This past week, AFSA’s state government affairs team sent a comment letter to the New York City Department of Consumer and Worker Protection (DCWP) on the updated proposed amendments to its rules relating to debt collectors. In the letter AFSA highlights concerns and suggests clarifications for various sections, including the scope of terms “debt collector” […]