Himpler on NADA President’s Retirement: A Passion for the Industry Translated to Success
May 13, 2020
Today, Peter Welch announced plans to retire at the end of 2020 as President and CEO of the National Auto Dealers Association. Bill Himpler, President and CEO of the American Financial Services Association released the following statement:
Some Legal Clarity on PPP Loans?
May 13, 2020
With uncertainty around the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) and promised extra scrutiny by the Administration, some businesses are considering returning PPP funds they received. While AFSA does not offer legal advice, a recent decision out of a U.S. District Court in Michigan may shed some light on whether it’s necessary to return PPP funding.
AFSA Effort Shows Results in Missouri
May 12, 2020
On May 7 the American Financial Services Association sent a letter to the town of Springfield, Missouri, regarding its new ordinance imposing fees, permits, etc. on “short-term loan establishments.”
This disruptive time has just about everyone adapting to a new normal. The current economic downturn has forced companies everywhere to find new ways to keep their business running, reduce operational expense and comply with social distancing mandates.
On May 7th, AFSA SVP Danielle Fagre Arlowe testified before the New Jersey Assembly Commerce and Economic Development Committee hearing on AB 3908. It was the first virtual hearing in state histroy. Her full testimony before the committee is below. Arlowe submitted written testimony for the Senate version of the bill S. 2330.
The American Financial Services Association (AFSA) this week submitted a comment letter to Eric Rosengren, the President & CEO of the Federal Reserve Bank of Boston. The letter expressed the troubling fact that – despite the name – the Main Street Lending Program (MSLP) is not supporting all Main Street businesses, specifically, consumer finance companies. The letter asks that “the Federal Reserve designate state-licensed and -regulated finance companies, including vehicle finance companies, credit card issuers, and traditional installment lenders, as eligible businesses.”
My First Post
May 07, 2020
Welcome to WordPress. This is your first post. Edit or delete it, then start writing!
Key Takeaways from Auto Reporting Webinar
May 06, 2020
As part of its Business Partner Webinar Series last week, AFSA hosted Equifax for Reporting Automotive Loan Payments During COVID-19 Pandemic. Drew Rosedale, Data Contributor Services Leader and Jenn Reid, VP Strategy & Marketing walked viewers through the lay of the land and what to expect in the coming weeks and months. There were four key takeaways from the program.
Join us on May 13th at 2:00 p.m. ET for Virtual Auto Retailing in Today’s Marketplace: Outlook & Strategies for Lenders, presented by DealerTrack.
AFSA’s State Government Affairs (SGA) team today published a COVID-19 state policy update white paper, the second of two papers covering state responses to the coronavirus outbreak. The white paper provides a snapshot of key state activity in response to COVID-19, updating the information provided in AFSA’s previous COVID-19 white paper published last month. This month's white paper examines credit-specific policy changes, including mandatory fee waivers, payment deferrals, collections restrictions, and moratoriums on repossession and foreclosure. The paper also provides an overview of statewide closures of non-essential businesses, state attorneys general advocacy, DMV operating changes, and state legislative session adjustments.