This week the Senate Committee on Banking hosted a hearing to examine “The Affordability Agenda.” Although the hearing split quickly along partisan lines over causes and solutions to rising consumer costs, Chairman Tim Scott (R-SC) emphasized the need to preserve consumer affordability while ensuring that financial institutions are not unfairly targeted by federal agencies, noting, “Reckless spending and heavy-handed […]

This week the CFPB announced changes to its consumer complaint system to address misuse. In particular, the CFPB is working to reduce misuse of the system by people and organizations seeking to manipulate credit reports and scores by removing accurate but derogatory information. These actions include updating procedures for Consumer Reporting Agencies (CRAs) to standardize substantive and administrative response closure categories and […]

“Industry Expertise” is sponsored content produced by AFSA’s Business Partners’ to provide thought leadership and best practices for AFSA member companies. For more information about this sponsored content opportunity, contact AFSA Membership. Auto finance lenders continue to navigate a complex environment, the most successful institutions can effectively balance growth and risk while responding to four […]