Press & Media Statements

Working closely with the Federal and State Government Affairs Departments, AFSA's Communications Department responds to and proactively works with news outlets seeking to cover the consumer credit industry. 

AFSA is pleased to assist the media with interviews, quotes, background information and story development regarding any of the business lines the association represents. Media inquiries can be directed to:

Jack Ferry      Dan Bucherer 
Vice President, Communications     Manager, Communications
+1 (202) 776-7308      +1 (202) 466-8613

AFSA urges changes to CFPB's proposed small dollar rule October 07, 2016

WASHINGTON, D.C., October 7, 2016 – The American Financial Services Association (AFSA) has submitted its 37-page comment letter to the Consumer Financial Protection Bureau (CFPB) urging the federal regulator to preserve consumers’ access to safe and affordable traditional installment lending (TIL) by modifying the Proposed Rule on payday, title loans and certain high-cost installment loans.

AFSA says CFPB Small-Dollar Lending Proposal Restricts Access to Consumer Credit June 02, 2016

WASHINGTON DC, June 2, 2016 – Today, the Consumer Financial Protection Bureau (CFPB) proposed its rule governing small-dollar lending. The bureau has been working for many months to craft the rule, but that hard work has, unfortunately, resulted in a proposal that will harm consumers’ access to safe, responsible credit.

The American Financial Services Association (AFSA) engaged the bureau several times during its discovery, drafting, and proposition of the small-dollar lending rule, especially as it relates to traditional installment lending.

AFSA Opposes CFPB Proposed Rule on Arbitration May 05, 2016

WASHINGTON, D.C. – May 5, 2016 – The Consumer Financial Protection Bureau (CFPB) proposed rule governing arbitration was released this morning in conjunction with a field hearing in Albuquerque, New Mexico.  As the American Financial Services Association (AFSA) anticipated, the proposed rule bans the use of class-action waivers in consumer credit agreements.

Conference Tackles Cyber Security, Compliance, Car Sharing, & Millennials’ Impact March 24, 2016


WASHINGTON DC, March 24, 2016 – The American Financial Services Association (AFSA) hosts its 20th annual Vehicle Finance Conference and Expo next week at Caesar’s Palace in Las Vegas, March 29-31.

One of the first events of the year for the vehicle finance industry, the conference has become the premier event for the auto finance industry.

This year‘s conference will feature topics such as cyber security, car-sharing and the new market, and hiring and retaining millennials.

AFSA Study Finds Significant Bias and High Error Rates in CFPB Proxy Methodology December 08, 2015

WASHINGTON, November 19, 2014...A comprehensive study of more than 8.2 million auto financing contracts found that the disparity alleged by the Consumer Financial Protection Bureau (CFPB) between the amount of dealer reserve charged to minorities and non-minorities is not supported by data.

The study, Fair Lending: Implications for the Indirect Auto Finance Market, commissioned by the American Financial Services Association (AFSA), examined the proxy methodology used by the CFPB and found significant bias and high error rates.

House Financial Services Committee Cites AFSA Study in Report Critical of CFPB Methodology for Alleging Discrimination November 24, 2015

WASHINGTON, November 24, 2015...Jeb Hensarling (R-TX), Chairman of the House Financial Services Committee, today issued a report critical of the Consumer Financial Protection Bureau’s (CFPB) use of the “disparate impact doctrine” to find alleged discrimination in vehicle financing.

The findings of the report, published by the Republican Staff of the House Committee, clearly show that the Bureau’s methodology to determine disparate impact and potential harm to protected classes is flawed and prone to overestimation. Further, the federal agency was aware of apparent discrepancies yet pushed forward with claims of discrimination, which resulted in enforcement actions forcing companies to pay millions of dollars in fines and penalties.

Participation Doubles in Non-Prime Auto Financing Survey for More Robust View of Industry June 04, 2015

WASHINGTON, June 4, 2015 . . . The non-prime automotive financing sector experienced the fourth consecutive year of market growth and recovery in 2014, according to the 2015 Non-Prime Automotive Financing Survey. Co-sponsored by the National Automotive Finance (NAF) Association and American Financial Services Association (AFSA), the survey is a benchmarking tool to identify trends and guide policy decisions.

AFSA Statement on CFPB Arbitration Study March 10, 2015

WASHINGTON, March 10, 2015...“The Consumer Financial Protection Bureau (CFPB) criticizes arbitration agreements because they limit class actions. Yet arbitration offers consumers a quicker resolution than class actions, which can be stuck in the court system for years.

AFSA Statement on Financial Product Safety Commission Act March 04, 2015

WASHINGTON, March 4, 2015...AFSA applauds Rep. Randy Neugebauer, chairman of the House Financial Services Subcommittee on Financial Institutions and Consumer Credit, for introducing the Financial Product Safety Commission Act of 2015, which calls for the Consumer Financial Protection Bureau (CFPB) to be governed by a five-member bipartisan commission rather than a sole director.