“As you consider potential financial provisions for the COVID-19 response legislation now under discussion, we ask that you refrain from adding new credit reporting provisions that may negatively affect consumers,” the American Financial Services Association and several other trade associations wrote to Senate Banking Committee leadership yesterday. The CARES Act established requirements that protect consumers and preserve […]

Become an American Financial Services Association’s Business Partner and gain access to leaders in the $300 billion consumer credit marketplace, including consumer and sales finance companies, traditional installment lenders, mortgage lenders and services, payment card issuers, direct and indirect vehicle finance and leasing finance sources. Business Partners gain opportunities to attract new customers and gain new […]

AFSA has expressed concerns about the effect that the Current Expected Credit Loss (CECL) accounting standards have on financial institutions. Earlier this year, Congress extended the implementation date for banks to comply with the new CECL standard. AFSA has been working with Members of Congress, regulatory agencies, and the Administration asking that the delay be […]

The featured Business Partner for August is Datascan. DataScan has established itself as the North American leader in providing dealer floorplan lenders with technology-based solutions for wholesale asset financing and inventory risk management. Clients rely on our comprehensive technology solutions, industry knowledge and expert team to successfully manage their business and reduce risk. Built upon […]

Today the Senate Banking, Housing, and Urban Affairs Committee held a hearing with the Director of the Consumer Financial Protection Bureau (CFBP), Kathleen Kraninger, to discuss the Bureau’s most recent Semi-Annual Report to Congress. The report details the Bureau’s activities during the pandemic to protect consumers’ finances and provide guidance to the financial industry to […]

Given the world in which we currently live, companies can no longer return to a static plan. What’s needed now is a dynamic strategy based on the ability to quickly absorb information and rapidly incorporate lessons learned in the marketplace. This webinar will review the current challenges consumer finance companies are encountering in marketing and […]

Today, the American Financial Services Association (AFSA) joined several other financial services trade associations in a letter urging Congressional leaders to pass legislation to uniformly apply the Federal Accounting Standards Board’s (FASB) Current Expected Credit Loss (CECL) accounting standards to all financial institutions, including other non-depository institutions. In March, when President Donald Trump signed the Coronavirus Aid, […]

On July 28, 2020, the Consumer Financial Protection Bureau (CFPB) announced a request for information (RFI) on preventing credit discrimination and building a more inclusive financial system.  Information about this effort is available at here. AFSA strongly supports the Equal Credit Opportunity Act. The RFI seeks feedback on issues including disparate impact, limited English proficiency, special […]

The American Financial Services Association‘s members have for more than a century believed that their success was built on the personal, face to face relationships they have built with their customers, sometimes generations of customers. But over the past few months, AFSA’s Work from Home Initiative  has been pushing for greater work from home flexibility […]

We know you’ve missed gathering with new customers; Let AFSA help strengthen your connection to the consumer finance industry! Take advantage of the best deal all year! Enjoy a single year rate for the remainder of 2020 and 2021, plus FREE registration to the 2020 Annual Meeting & Indpendents Conference & Expo, a bonus worth $1,300! AFSA’s Business Partner […]