With concern about vehicle loan delinquencies and repossessions at a high level in some corners of Capitol Hill, the latest edition of the Federal Reserve Bank of New York’s Household Debt and Credit Report sheds some new light on the state of the automotive finance market. While there is data of concern, the outlook may […]

Last week, AFSA’s State Government Affairs team submitted a comment letter in support for WV SB 702.  SB 702 is an important step toward modernizing West Virginia’s consumer credit laws by replacing an outdated tiered rate structure with a clear, 36% APR cap, improving both simplicity and access to responsible credit. This reform will help more […]

U.S. Sens. Sheldon Whitehouse (D-RI), Elizabeth Warren (D-MA), Jack Reed (D-RI), and Jeff Merkeley (D-OR)  introduced legislationthat would grant states the ability to limit consumer loan interest rates. The Empowering States’ Rights to Protect Consumers Act seeks to address the 1978 Supreme Court decision Marquette National Bank of Minneapolis v. First of Omaha Service Corporation, which ruled that a national […]