Today, the American Financial Services Association submitted a letter to Secretary Janet Yellen in support of creating a Presidential Commission for Financial Inclusion at the Department of the Treasury. The concept was proposed by Democrat Sens. Christopher Coons (DE), Raphael Warnock (GA), and John Hickenlooper (CO). You can read the letter here. So, why do […]

Last week, AFSA wrote a letter to the House Select Committee on Economic Disparity and Fairness in Growth to support its roundtable discussion on Serving Unbanked and Underbanked Americans. The bipartisan roundtable featured perspectives on how to increase participation for individuals unable to access traditional banking services by the business community. AFSA urged the Select […]

Join global leaders weighing in on the industry’s top priorities at the start of the new year – the pandemic, supply chain, inflation, consumer spending, interest rates, unemployment, remote work, and more. What do they anticipate as their companies continue to transform their organizations and business models? Register today and join:  Marc Womack, Head of […]

This week, AFSA and the U.S. Chamber of Commerce (Joint Trades) submitted amicus briefs before the Missouri Supreme Court in two cases involving the enforceability of arbitration provisions in loan agreements, Bridgecrest Acceptance Corp. v. Donaldson and Haulcy and Bridgecrest Acceptance Corp. v. Jones. In both cases, the Joint Trades wrote in support of the […]

Last month, Senator John Boozman (R-AR) led a group of 19 other Senators in opposing the United States Postal Service (USPS) expansion into banking after. the USPS launched a banking pilot program in September to expand consumer financial services to check cashing services. The program enables customers to purchase gift cards, which can be used like debit cards, of up to $500 using payroll or […]

On November 29, AFSA’s Director of State Research and Policy, Matt Kownacki, testified at a District of Columbia Council committee hearing in opposition to B24-0357. The bill would permanently amend DC’s laws relating to debt collection to place significant new restrictions on creditors collecting from and communicating with their customers. While AFSA’s members are committed to preventing abusive collection practices, some of the proposed bill’s provisions would result in […]

AFSA’s December Featured Business Partner is LexisNexis Risk Solutions. LexisNexis® Risk Solutions harnesses the power of data and advanced analytics to provide insights that help businesses and governmental entities reduce risk and improve decisions to benefit people around the globe. We provide data and technology solutions for a wide range of industries including insurance, financial […]

This blog post is presented by Transunion as part of AFSA’s Business Partner Webinar Program.   Vehicle sales will continue to decline as inventory shortages impact retail and wholesale supply chains. As such, auto lenders are exploring growth options and even traditionally non-auto lenders are entering a largely untapped space — auto refinance. While beneficial […]

AFSA and a coalition of trade associations (the “Trades”) filed an amicus brief supporting TD Auto Finance in Pulliam v. TD Auto Finance, a case concerning the Federal Trade Commission (FTC) Holder Rule. Under this rule, every consumer credit contract must contain a two-sentence clause. The first sentence subjects any “holder” or seller of the contract to all […]

This week, AFSA submitted a letter for the record to the House Small Business Committee requesting that Congress instruct the Small Business Administration (SBA) to clarify that finance companies are eligible for Paycheck Protection Program (PPP) loan forgiveness, as directed by Congress in the CARES Act. The letter was sent in advance of the Committee’s […]