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

Ashburn Selected to Lead AFSAEF in Critical Time for Financial Education November 16, 2016

WASHINGTON, D.C. (November 16, 2017) - The American Financial Services Association Education Foundation (AFSAEF) is pleased to announce the hiring of Rhonda Paul Ashburn as its new executive director. She joins AFSAEF from the National Foundation for Credit Counseling® (NFCC®) and will oversee all aspects of the AFSAEF, including its leadership development programs, and the popular MoneySKILL® premier online personal finance education curriculum, which now has more than 700,000 users in all fifty states.

AFSA Celebrates 100th Anniversary Conference October 27, 2016

WASHINGTON, D.C. (October 27, 2016) - The American Financial Services Association (AFSA) just concluded its 100th anniversary Annual Meeting at The Breakers in Palm Beach, Fla. The conference paid tribute to AFSA’s formation as the American Association of Small Loan Lenders, with 41 members in 1916. Today, the association advocates for more than 400 member companies. In the past year, 62 new members joined the association, a record annual increase of membership.

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 Education Foundation Executive Announces Retirement July 15, 2016

WASHINGTON, D.C. (July 15, 2017) - After 21 years with the American Financial Services Association Education Foundation (AFSAEF), president and CEO, Ms. Susie Irvine, has announced her retirement effective August 31, 2016. Ms. Irvine has been instrumental in establishing the fine reputation of the foundation and increasing the professionalism of its many offerings. Financial literacy has been her passion for many years, and she has worked tirelessly in that arena.

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.