Cox Automotive Chief Economist Jonathan Smoke returns on June 18 at 2:00 p.m. ET to keep lenders apprised of market conditions and financial predictions — particularly with off-lease inventory expected to surge and used retail to draw its own pandemic curve. Picking up where last month’s consumer/dealer insights drove digital strategy discussion for supporting consumers and dealers through virtual contact-to-contract deal finalization, there’s still much “back office” work for lenders left to do.

Join senior leaders of the American Financial Services Association (AFSA) for AFSA Premier Partner Solutions by Text’s “Virtual Lunch and Learn Huddle Week” from June 15th through the 19th.

AFSA President & CEO Bill Himpler sent the below message to members yesterday afternoon remarking on the passing of Ray Biggs, who left an indelible mark on the consumer credit industry.

In this episode of the AFSA Extra Credit Podcast we talk with Danielle Fagre Arlowe, the head of AFSA's State Government Affairs team, about what AFSA's been doing on the state front to advocate for members and the variety of resources the group has developed. We also chat with Celia Winslow, who leads the association's federal government affairs department, about AFSA's advocacy activities during lockdown.

The American Financial Services Association (AFSA) today submitted a comment letter to Senate Committee on Small Business and Entrepreneurship Chairman Marco Rubio (R-FL) and Ranking Member Ben Cardin (D-MD) regarding expanding access to the Payment Protection Program (PPP).

In late May the Federal Reserve finally announced details of its next highly appreciated emergency lending facility, the Main Street Lending Program (MSLP). The goal of the MSLP is tohelp small and medium-sized businesses that were financiallysound before the Coronavirus pandemic maintain their operations and payroll until conditions stabilize. Eligible businesses with up to 15,000 employees or less than $5 billion in annual revenue in 2019 can apply for a loan between $500,000 and $25 million, albeit with some strings attached, including employee compensation and stock repurchase restrictions.

The featured Business Partner for June is Allied Solutions/Securian Financial Group. Learn more at alliedsolutions.net.

Earlier this year the Consumer Financial Protection Bureau (CFPB) convened a taskforce on federal consumer financial law. Its purpose: bringing together external experts to examine ways to harmonize and modernize federal consumer financial laws. This is a laudable goal and AFSA supports the creation of the taskforce.This week AFSA provided recommendations to the taskforce, suggesting that it examine consumer demand for installment loans and how an “all-in” APR harms consumers. AFSA also advocated for modernizing certain consumer finance statutes and regulations and for increased federal and state coordination.AFSA looks forward to reading the taskforce’s final report, which is expected in early 2021. This report will be the most comprehensive look at consumer credit since the National Commission on Consumer Finance issued its report in 1972.