The American Financial Services Association's (AFSA) State Government Affairs team has published its 2024 Post-Election Report, highlighting significant changes in state-level political power following the recent elections.
In the automotive and wholesale industry, managing inventory risk is a critical task for lenders who need to protect their collateral while supporting dealer operations.
Last week, the American Financial Services Association's (AFSA) State Government Affairs released its November white paper focusing on reverse mortgages and the impact of legislation and regulations on consumers.
The American Financial Services Association (AFSA) closely monitored the legislative elections held across 44 states during the recent general election.
Votes are still being counted in some House of Representatives races, but the Senate and Presidential elections have been decided in favor of the Republicans.
The Treasury Department recently published its Financial Inclusion Report, prompting a response from the American Financial Services Association (AFSA).
This week marks the 50th anniversary of the Equal Credit Opportunity Act (ECOA), a significant law that changed financial access for women in the United States by banning discrimination in lending practices.
AFSA has responded to a request for information from the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve.
AFSA has announced the passing of Alvin O. Wiese, a prominent figure in the field of consumer finance law, who died on October 11 at the age of 95. Al Wiese, a graduate of the University of Southern California Law School, was admitted to the bar in 1954 and spent his career representing consumer finance lenders, AFSA, and the California Association.
A bipartisan group of U.S. Representatives, led by Rep. Blake Moore (R-UT), has formally requested that FDIC Chair Martin Gruenberg withdraw a proposed rule concerning the parent companies of industrial banks and industrial loan companies (ILCs). The representatives argue that the rule could introduce uncertainty and hinder ILCs' ability to provide essential products and services to consumers.
Representatives Wiley Nickel and Young Kim have introduced the "Ending Credit Repair Scams Act" (HR 9991), a bipartisan effort aimed at protecting consumers from deceptive credit repair organizations. These organizations often promise to improve credit history while charging high fees without delivering results.
AFSA, in collaboration with the Bank Policy Institute (BPI) and America’s Credit Unions (ACU), has filed an amicus brief concerning recent changes made by the Consumer Financial Protection Bureau (CFPB) to its Supervision and Examination Manual. The brief argues that these changes exceed the CFPB's authority by extending its scope beyond addressing intentional discrimination.
The New York Times recently sought the perspective of the American Financial Services Association (AFSA) on a Consumer Financial Protection Bureau (CFPB) review concerning auto financing practices. AFSA expressed concerns about the CFPB's approach to categorizing errors in the industry.
AFSA has initiated a fundraising campaign to aid recovery efforts in southeastern U.S. communities impacted by Hurricanes Helene and Milton. The organization is conducting a virtual raffle, offering one fully paid registration for the 2025 AFSA conference of the winner's choice. Options include the Vehicle or Independents Conference & Expos in New Orleans or Huntington Beach, CA, respectively, or the Annual Meeting in Washington, DC.
PayNearMe has announced a partnership with GOLDPoint Systems, aiming to enhance payment options for borrowers and reduce operational expenses for lenders. This collaboration integrates PayNearMe's payment platform with GOLDPoint Systems' loan management software, offering expanded payment methods.
The American Financial Services Association's (AFSA) State Government Affairs team has released its October white paper, focusing on the "buy now, pay later" (BNPL) services. This release comes amid the growing popularity of BNPL services, driven by the increase in online shopping.
The featured business partner for October is ACI Worldwide. Known for its leadership in billing and payments, ACI Worldwide offers ACI Speedpay, which aims to drive efficiency and increase collections.
PayNearMe, a fintech company based in Santa Clara, California, has reported substantial growth in its lending sector over the past 18 months. The company's platform expansion has resulted in significant increases in transaction volume and new client acquisitions among auto dealers and personal lenders.