SBA Updates Loan Guidelines
May 14, 2020
The Small Business Administration (SBA) in the past 48 hours has updated their guidelines for both the review and return of Paycheck Protection Program (PPP) loans in two FAQs.
AFSA Efforts on Next Relief Package
May 14, 2020
On May 12, House Democrats released a new stimulus proposal, dubbed the HEROES Act. The three-trillion-dollar bill may be voted on and passed largely along party lines this Friday. It is not expected to be taken up by the Senate.
WATCH | Webinar on Economic Outlook and Strategies Today @ 2p ET
May 13, 2020
Join Cox Automotive Chief Economist Jonathan Smoke today at 2:00 p.m. ET as he sets the discussion with an Auto Retailing State of the Union.
Himpler on NADA President’s Retirement: A Passion for the Industry Translated to Success
May 13, 2020
Today, Peter Welch announced plans to retire at the end of 2020 as President and CEO of the National Auto Dealers Association. Bill Himpler, President and CEO of the American Financial Services Association released the following statement:
Some Legal Clarity on PPP Loans?
May 13, 2020
With uncertainty around the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) and promised extra scrutiny by the Administration, some businesses are considering returning PPP funds they received. While AFSA does not offer legal advice, a recent decision out of a U.S. District Court in Michigan may shed some light on whether it’s necessary to return PPP funding.
AFSA Effort Shows Results in Missouri
May 12, 2020
On May 7 the American Financial Services Association sent a letter to the town of Springfield, Missouri, regarding its new ordinance imposing fees, permits, etc. on “short-term loan establishments.”
Lender Digital Strategies for Virtual Auto Retailing
May 11, 2020
This disruptive time has just about everyone adapting to a new normal. The current economic downturn has forced companies everywhere to find new ways to keep their business running, reduce operational expense and comply with social distancing mandates.
Fagre Arlowe Testifies Before NJ Assembly Committee
May 08, 2020
On May 7th, AFSA SVP Danielle Fagre Arlowe testified before the New Jersey Assembly Commerce and Economic Development Committee hearing on AB 3908. It was the first virtual hearing in state histroy. Her full testimony before the committee is below. Arlowe submitted written testimony for the Senate version of the bill S. 2330.
Main Street Lending Program Should Support Main Street Businesses
May 07, 2020
The American Financial Services Association (AFSA) this week submitted a comment letter to Eric Rosengren, the President & CEO of the Federal Reserve Bank of Boston. The letter expressed the troubling fact that – despite the name – the Main Street Lending Program (MSLP) is not supporting all Main Street businesses, specifically, consumer finance companies. The letter asks that “the Federal Reserve designate state-licensed and -regulated finance companies, including vehicle finance companies, credit card issuers, and traditional installment lenders, as eligible businesses.”
My First Post
May 07, 2020
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