Today's Headlines

    AFSA Summer Webinars + New Recordings

    So far in the first half of 2018, AFSA’s popular Webinar Series has hosted 10 webinars on a broad range of topics relevant to the consumer credit industry.

    AFSA’s Webinar Series calendar is open for July, which is the perfect time to catch up on any webinars you may have missed this year.  AFSA’s Webinar Resource Center (features recordings and materials from all of our past presentations. Check them out today!

    Our upcoming webinars include:

    AUGUST 8 | Situational Awareness & the Regulatory Landscape, presented by LenderLive on August 8, This session will take a look at the latest regulatory issues facing the auto finance industry and explore case law developments regarding the Servicemembers Civil Relief Act (SCRA), including wrongful repossession, lease termination and military lending.

    AUGUST 22 | Join Dimont for Asset Protection & Monitoring Best Practices. Establishing the right processes and procedures for collateral protection and monitoring can save lenders losses on their portfolio. This program we will outline steps to ensure successful collateral protection.

    SEPTEMBER 12 | In this session, TransUnion will size the market for alternative lending products, the type of features of these loans, and evaluate the consumers who use them compared to the traditional landscape.

    New webinars and topics are added constantly, so be sure to check the Webinar Resource Center for the most up-to-date program schedule. To pitch a topic for a future AFSA Webinar, contact Dan Bucherer.

    Featured Premier Business Partner

    Bi-monthly, AFSA will feature a new AFSA Premier Business Partner on our Premier Partner resourcepage.

    This month’s spotlight company is 8-star partner TransUnion.

    Information is a powerful thing. At TransUnion, we realize that. We are dedicated to finding innovative ways information can be used to help people around the world access the opportunities that lead to a higher quality of life, organization optimize their risk based decisions, and enable consumers to understand and manage their credit, personal information and identity. At TransUnion, we go beyond credit data to offer the insights businesses and consumers need to make informed decisions and achieve great things. We call this Information for Good.

    Attention Business Partners! AFSA Members Want You!

    AFSA members want to do business with companies that support their trade association!

    Join in July or August and receive a complimentary registration to the Annual Conference, a $1,300 value!

    Corporate membership as a Business Partner is available to companies that provide products and services to consumer or commercial finance companies and banks.

    Companies must be in business for at least one year and approved by the AFSA Board of Directors. A company may not join as a Business Partner if they qualify for membership as a consumer or commercial lender. When approved, you will receive a form to complete to be listed in the AFSA Online IndustryBuyers Guide which his included with your membership.  

    Pay for 2019 Now and Receive The Rest of 2018 Free!    

    Complete this special application form and email it by August 31st, 2018 to Jenny Bengtson or mail with your payment to:  AFSA Membership Department 919 Eighteenth Street, NW, Suite 300 Washington, DC 20006-5517

    SGA Whitepaper Covers CSBS Vision 2020

    On July 2, AFSA’s State Government Affairs department published its CSBS Vision 2020 whitepaper. The Conference of State Bank Supervisors (CSBS) first launched its Vision 2020 program for fintech and nonbank regulation in May 2017. CSBS describes the program as a series of initiatives to modernize state regulation of nonbanks, including financial technology firms. AFSA’s white paper digs deeper into these initiatives and outlines their stated goals. The paper also includes information on the redesign of the National Multistate Licensing System (NMLS), set to launch in the second quarter of 2019; the Fintech Industry Advisory Panel; and a recent multistate compact agreement on licensing for money services businesses.

    Although some elements of the program have already faced delays, the progress of Vision 2020 will affect most sectors of the financial services industry, and AFSA will continue to monitor it closely on behalf of its members.

    AFSA’s State Government Affairs team publishes white papers monthly, and members can find previous papers on AFSA’s website under the SGA Resources section. 

    AFSA Comments on Bureau’s Guidance Materials

    On July 2, AFSA submitted a letter to the Bureau of Consumer Financial Protection in response to a request for information (RFI) on the overall effectiveness and accessibility of the Bureau’s guidance materials and activities.  

    The letter stated, “AFSA’s position is twofold. First, any substantive policy statements or standards issued by the Bureau should go through the Administrative Procedure Act’s (APA) notice and comment process. Second, the Bureau should issue explanatory guidance to help financial institutions comply with regulations issued by the Bureau.”  

    The Bureau uses the term “guidance” to apply to a variety of materials and activities including: interpretive rules, general statements of policy, rule summaries, compliance guides, checklists, institutional and transactional coverage charts, webinars, and staff manuals.  

    This letter was in response the Bureau’s 10th RFI. The last two RFIs relate to the Bureau’s financial education programs and to the Bureau’s consumer complaint and inquiry handling processes.