AFSA joined with the National Association of Industrial Bankers, the Utah Bankers Association, and the Nevada Bankers Association in a letter to all Senators in opposition to S. 3538, the misnamed “Close the Shadow Banking Loophole Act,” introduced at the end of last year. The associations explained that the bill would reduce credit and financing […]

Yesterday, a bipartisan group of Members of Congress sent a letter to the Consumer Financial Protection Bureau (CFPB) to express their concerns about a CFPB nonbank procedural rule. These eight members, many of whom serve on the House Financial Services Committee, echoed concerns that AFSA had shared with the CFPB before the rule was finalized. […]

The second of six releases that make up Alfa Systems 6, a breakthrough iteration of the Alfa Systems software platform, sets a new standard for excellence in US auto finance originations. Alfa, a pioneer in technology for automotive finance, has announced the introduction of Total Originations for the US auto finance market, setting a new […]

AFSA’s State Government Affairs team recently sent a comment letter to the New Jersey General Assembly regarding NJ A1971 and S332 on collection and disclosure of personal data by certain entities. In the letter AFSA raises concerns with the existing exemptions in the Driver’s Privacy Protection Act (DPPA) and the Fair Credit Reporting Act (FCRA) being inadequate in safeguarding members’ […]

AFSA’s State Government Affairs team sent a comment letter to the Massachusetts Office of Attorney General (OAG) on the proposed regulations related to Unfair and Deceptive Fees. In the letter, AFSA highlights concerns with the proposed regulations due to their wide-ranging scope and ambiguous wording, leaving the potential impact on financial services uncertain. The letter lays out recommendations to extend […]

AFSA Chief Economist Tim Gill has joined the prestigious The Wall Street Journal’s longstanding Economic Forecasting Survey panel. The panel consists of approximately 75 economists from academia, financial institutions, consulting firms, and trade associations who contribute their own forecasts of key economic indicators four times a year, and Gill is one of only 9 trade […]

This week the Small Business Review Panel issued its “Final Report” on the CFPB’s Fair Credit Reporting Act (FCRA) proposals. This is part of the Consumer Financial Protection Bureau’s rulemaking process. The Small Business Regulatory Enforcement Fairness Act (SBREFA) of 1996 provided new avenues for small businesses to participate in the federal regulatory arena, and […]

Welcome back! This week, both the House of Representatives and the Senate are in session following their holiday break. Below are some highlights from the first week back: The State of the Union Marches On … House Speaker Mike Johnson (R-LA) formally invited President Biden to deliver the State of the Union on March 7, […]

On January 2, AFSA’s State Government Affairs (SGA) team released its latest white paper. This month’s white paper provides a 2024 State Legislative Session preview and 2023 year-in review. In 2023, California and D.C. addressed AI-related legislation, potentially influencing other states in 2024. Privacy concerns led to a surge in bills, though comprehensive legislation is […]

Last week, in a letter to the Consumer Financial Protection Bureau, AFSA reiterated support for innovation in the financial services industry but cautioned against overly restrictive use limitations. The CFPB’s proposed rulemaking to implement Section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) is the next step in a 7-year […]