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Member Alert | Disregard non-AFSA Solicitations
Apr 27, 2020

AFSA has become aware of several scam companies and individuals posing as AFSA staff members offering a variety of different professional contact lists. Many of the most recent messages offer discounted lists because of the need to cancel/postpone many meetings.

AFSA Advocates for Expansion of SBA PPP Increases
Apr 25, 2020

President Trump today signed into law an additional $484 billion in coronavirus relief, $310 billion of which replenishes the Small Business Administration (SBA) Paycheck Protection Program (PPP). Senate Small Business Committee Chairman, Sen. Marco Rubio (R-FL) announced via Twitter that he expects the PPP to restart Monday morning.

AFSA Urges Immediate Action from FCC
Apr 23, 2020

This week, the American Financial Services Association submitted a letter to the FCC requesting immediate action regarding a petition that AFSA and other trade associations submitted last month.

AFSA Submits Comment to Mass. on Emergency Legislation
Apr 22, 2020

AFSA’s State Government Affairs (SGA) team yesterday submitted a comment letter regarding Massachusetts HD 5014, which would enact emergency financial protections and forbearance for consumers and small business during the COVID-19 pandemic. While AFSA’s members share the goal of providing relief to borrowers facing financial hardship, the bill as drafted would likely disrupt credit markets and create significant compliance challenges for creditors at a time when resources should be most focused on providing direct consumer relief. Among AFSA’s many concerns with the bill is its wide-ranging scope; as drafted, much of the bill would apply without relation to a consumer’s COVID-19 financial situation. AFSA urged the legislature to revise the bill’s requirements to cover consumers facing demonstrated financial hardships directly attributable to COVID-19.

LISTEN | COVID Conversations Part 2: Cybersecurity, Credit Reporting, TCPA & More
Apr 21, 2020

This is part two of our AFSA Extra Credit Podcast series covering the COVID-19 pandemic.In this conversation, we’re speaking with David Anthony and Sadia Mirza, also with Troutman, on the overall impact of the virus, including debt collection, credit reporting and the TCPA, and also some cybersecurity aspects to think about. Because of the complex nature of these topics, you’ll notice the conversations are a bit longer as well. Be sure to check out AFSA’s coronavirus resource page, the AFSA blog, and social media for the most up to date information.

Four Things to Know About COVID-19 & the Consumer Credit Industry
Apr 20, 2020

The news cycle continues to turn and with it comes more information about the coronavirus. Consumer finance companies, like ordinary Americans, are drinking from the firehose, trying to sift through what they need to know now to continue serving customers and helping employees. We’ve tried to distill the information flow down to the top four things you need to know.

2020 Law & Compliance Symposium Cancelled
Apr 20, 2020

The health and safety of AFSA members, their colleagues and our business partners is our top priority. As a result, to the COVID-19 pandemic, AFSA is canceling the Law & Compliance Symposium and related committee meetings scheduled for June 2-4 in Dallas. Please stay safe, and we look forward to connecting and working together in person very soon.

AFSA White Paper Details COVID State Policy Responses
Apr 17, 2020

The American Financial Services Association State Government Affairs (SGA) team today published a COVID-19 state policy update white paper, the first of two covering state responses to the coronavirus outbreak.

Get the Download on PPP & Employee Considerations on the Extra Credit Podcast
Apr 17, 2020

The next two episodes of the AFSA Extra Credit Podcast are a bit different. We talk with attorneys from Troutman Sanders about the impact coronavirus is having on the consumer credit industry. Throughout the conversation, our guests highlight some key aspects to think about. Part One features Jeremy Tomes and Emily Schifter talking about the Small Business Administration Paycheck Protection Program, as well as important employee logistics issues. Part Two, which posts early next week, is with David Anthony and Sadia Mirza on the overall effect of the virus and some cybersecurity aspects to consider.

Himpler: SBA Can Do Right by Businesses & Consumers
Apr 16, 2020

American Financial Services Association President and CEO Bill Himpler posted the following related to the current status of federal COVID-19 response lending policies.

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