In Washington it’s not uncommon to have policy proposals that lack common sense. The same can be said for well-intentioned policies that create adverse, unintended consequences. It’s less common that a single proposal achieves both. But that’s what has happened with a congressional proposal that would cap consumer loan interest rates at 15 percent and allow the U.S. Postal Service to enter the consumer-loan business.
AFSA yesterday submitted a comment letter to House Financial Services Committee Chairwoman Maxine Waters (D-MO) and Ranking Member Patrick McHenry (R-NC) in advance of today's hearing entitled Oversight of Prudential Regulators: Ensuring the Safety, Soundness and Accountability of Megabanks and Other Depository Institutions. The hearing will deal with the Current Expected Credit Loss (CECL) standard and the letter expresses the association's concerns with the rule.
AFSA yesterday submitted a letter to House Committee on Oversight and Government Reform Chairman Elijah Cummings (D-MD) and Ranking Member Jim Jordan (R-OH) in advance of a hearing entitled CFPB’s Role in Empowering Predatory Lenders: Examining the Proposed Repeal of the Payday Lending Rule.
When companies develop marketing strategies for brand and product awareness they will need to consider many forms of media to carry their messages.
Join us on May 30 at 2:00 p.m. ET for Repo on the Rise: 3 things for motor vehicle lenders to consider today, presented by Wolters Kluwer
It is with great sadness that we inform you of the passing of Dr. Lewis Mandell, author of MoneySKILL.
Call limits were the most discussed issue at the Consumer Financial Protection Bureau’s (CFPB) May 9 Town Hall on debt collection in Philadelphia. Also discussed were; whether consumers should be able to opt-in to communications from debt collectors, communicating with consumers via text and email, the content of a voice mail message from a debt collector, debt validation notices, and whether the CFPB should permit the collection of time-barred debt.
AFSA Submits Letter to FSGG re: TCPA
May 07, 2019
On Monday, AFSA submitted a letter to the Financial Services and General Government Subcommittee of the Senate Appropriations Committee. The letter was submitted in advance of the hearing to determine the 2020 fiscal year budget for the Federal Communications Commission (FCC) and urges the subcommittee to assist the FCC in adopting regulations implementing the Telephone Consumer Protection Act (TCPA) as soon as possible.
The Court of Appeals on Wednesday, submitted an unpublished opinion on the rehearing of Ron Miller Enterprises v. Lobel Financial Corporation, Inc. While Lobel Finance did not succeed in it's case, the fact that this opinion is not published precludes it from being used as a citable authority, a positive outcome for the industry. AFSA filed an amicus brief in the matter on April 6th. Though the decision does not mention AFSA's amicus directly, it is likely that the court's decision to designate the opinion for non-publication was a result of the association's action.
TCPA Hearing Focuses on Illegal Robocalls
May 02, 2019
On Tuesday, the House Energy & Commerce Subcommittee on Communications and Technology held a hearing entitled, “Legislating to Stop the Onslaught of Annoying Robocalls.” Attached is a letter that several trade associations signed and sent in advance of the hearing. AFSA prepared questions for members of the subcommittee to ask. One of the questions – asking witnesses how calls from legitimate businesses could still get through to consumers – was asked by a several members of Congress. Several members made the critical distinction between legitimate business calls and fraudulent robocalls.