AFSA Asks Senate to Help Consumers May 28, 2020 The American Financial Services Association (AFSA) yesterday sent a letter to Senate Majority Leader Mitch McConnell (R-KY) and Minority Leader Chuck Schumer (D-NY) asking that the Senate explore several measures that would help consumers and the U.S. economy recover from the coronavirus pandemic. Ensure businesses such as finance companies are eligible for the Paycheck Protection Program (PPP), to keep employees on the job to serve consumers; Exclude harmful credit provisions that would actually limit consumers’ ability to access credit. Update the Term-Asset Backed Securities Loan Facility (TALF) program. Allow finance companies to use the Main Street Lending Program (MSLP). Support the inclusion of the Securing and Enabling Commerce Using Remote and Electronic Notarization Act (SECURE Notarization Act). Assist the military under the Servicemembers Civil Relief Act (SCRA) with clear provisions. Apply relief from the Current Expected Credit Loss (CECL) standard for all the financial sector. AFSA hopes that, as the Senate works on a new stimulus package, it continues to provide relief to millions of Americans grappling with the economic disruptions caused by the pandemic.