Nov 24, 2016
From everyone at AFSA, we hope that you and yours have a safe and happy Thanksgiving filled with love and family.
In observance of the holiday, AFSA will be closed on November 24th & 25th.
President-elect Donald Trump has tapped Jeffrey Eisenach, a free-market economist with an avowed deregulatory bent, to lead his Federal Communications Commission (FCC) transition team.
President-elect Trump and an incoming Republican Congress have pledged to roll back the Dodd-Frank Act. How do they plan on doing that? And what obstacles may be in their way?
Transition Tracker | CFPB Appeals in PHH Case
Nov 21, 2016
On Nov. 18, the CFPB appealed the D.C. Circuit Court's three-judge panel ruling in the PHH Corp. v. Consumer Financial Protection Bureau case that found the CFPB’s structure unconstitutional.
On November 16, AFSA submitted a comment letter to the South Dakota Division of Banking requesting the Division confirm that Initiated Measure 21 would not apply to retail installment contracts and requesting clarification on calculation of the measure’s 36 percent all-in rate cap. Initiated Measure 21 was approved by South Dakota voters on November 8 and became effective November 16, following the Secretary of State’s official canvas. AFSA members raised concerns and questions about the Measure’s application to retail installment contracts and the inclusion of ancillary products in the calculation of the finance charge.
On November 14, AFSA submitted comments to the New York Department of Financial Services (NYDFS) regarding its proposed cybersecurity regulation for financial services companies –the first of its kind from a state regulator. The proposal would impose new, extensive, cybersecurity requirements on financial institutions in a variety of different areas.
Today, the American Financial Services Association Education Foundation (AFSAEF) welcomed its new Executive Director Rhonda Paul Ashburn. She joins AFSAEF from the National Foundation for Credit Counseling® (NFCC®) and will oversee all aspects of the AFSAEF, including its leadership development programs, and the popular MoneySKILL® premier online personal finance education curriculum, which now has more than 700,000 users in all fifty states.
AFSA Staff Meet with DoD on MLA
Nov 08, 2016
AFSA staff joined several other trades and some financial institutions in a meeting with senior Defense Department staff on the Military Lending Act regulations. This is one of a series of meetings industry has had with the department to continue the dialogue on issues regarding the implementation of the regulations. Much of the discussion focused on implementing the regulations regarding credit cards, which go into effect in October 2017.