Last week AFSA’s State Government Affairs team submitted testimony opposing Maryland HB 29 and Washington SB 5070, both of which seek to limit interchange fees on the gratuity and sales tax portions of electronic transactions. These bills, modeled after Illinois’ controversial Interchange Fee Prohibition Act (IFPA), would shift financial burdens from retailers to financial institutions, creating a host of […]

AFSA, along with many other trade associations, sent a letter this week to Senate Commerce Committee Chairman Ted Cruz (R-TX), Senate Commerce Committee Ranking Member Maria Cantwell (D-WA), House Energy and Commerce Chairman Brett Guthrie (R-KY), and Ranking Member Frank Pallone (D-NJ) to clearly lay out a national privacy framework. The letter states that consumers […]

Last week, the Consumer Financial Protection Bureau (CFPB) issued the second in a series of reports based on its 2023 Auto Finance Data Pilot.  While the first report discussed negative equity in vehicle finance transactions, the new paper provides a CFPB analysis of available data relating to vehicle repossessions and discusses statistical trends in repossessions […]

The AFSA Extra Credit Podcast is back for 2025 with fresh takes, knowledgeable experts and timely conversations on the consumer credit industry. First up? Brian Chance and Katie Johar of EY and Eva Kellershof of NETSOL take a deep dive on the evolving vehicle purchasing landscape and the direct-to-consumer (DTC) model and what it could […]

AFSA’s State Government Affairs team submitted a comment letter to the California Privacy Protection Agency regarding the proposed regulations for updates to the California Consumer Privacy Act (CCPA). AFSA expressed strong concerns about the proposed regulations’ practicality, legal compliance, and alignment with statutory authority. AFSA believes that several aspects of the regulations, including cybersecurity audits, risk assessments, […]

AFSA would like to congratulate the new FTC Chair Andrew Ferguson. As of January 20th, FTC Commissioner Andrew Ferguson is Chair of the Federal Trade Commission, taking over for former Chair Lina Khan. As Chair Ferguson was already a confirmed commissioner of the FTC; he assumed his role immediately following President Trump’s oath of office. Before being […]

AFSA, in conjunction with our members, has worked to compile a list of policy requests to bring transparency and accountability to the Consumer Financial Protection Bureau (CFPB). These policies, focused on reforming the CFPB, will decrease confusion in the marketplace that the Bureau’s overregulation has been instilling. Every consumer deserves access to some form of credit; they […]

The AFSA Education Foundation is celebrating a milestone event this year, its 35th anniversary and thanks to the generosity of AFSA member representatives giving their time and financial resources annually and to establish an endowment, the AFSAEF has been at the forefront of financial education. The highly regarded personal finance curriculum, MoneySKILL® remains a flagship […]

Reps. Sarah McBride (D-DE) and Young Kim (R-CA) reintroduced the bipartisan “Ending Credit Repair Scams Act” (HR 306) last week. This bipartisan legislation would protect financially distressed consumers from shady credit repair organizations (CROs) that falsely promise to rebuild their credit history while charging expensive up-front and monthly fees. Representative McBride recognized AFSA’s support in a press […]

Yesterday, AFSA sent a letter to both Senate Banking Chairman Tim Scott (R-SC) and House Financial Services Chairman French Hill (R-AR) congratulating them on their selection as chairmen for the 119th Congress, and reiterating our appreciation for both Senator Scott and Congressman Hill’s support of the consumer credit industry. The letter, along with AFSA’s 2025 priorities […]