Why Finance Companies Are Using Verification Tools at Record Levels

Reading some of the headlines from major media outlets, it might seem as though auto finance companies didn’t understand the importance of verifying income and employment information provided by applicants. Everything was written from auto finance companies being fraudsters to the auto industry being the harbinger for the next recession. However, the headlines largely got […]
  • American Financial Services Association
  • October 1, 2018
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AFSA Opposes MA H.4806

On July 30, AFSA sent a letter to Massachusetts Governor Charlie Baker opposing H.4806, a bill related to security breaches. As currently written, the bill would prohibit lenders to view consumer’s credit information in order to make pre-approved and pre-screened offers of credit, which lowers overall costs. “Though AFSA shares the legislature’s goal of protecting […]
  • American Financial Services Association
  • August 3, 2018
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Kathleen Kraninger Selected to Be Next BCFP Director

PRESS RELEASE — President Donald Trump this week nominated Kathleen “Kathy” Kraninger as the new director of the Bureau of Consumer Financial Protection. Once confirmed by the Senate, Kraninger will replace the bureau’s Acting Director Mick Mulvaney, who also serves as director of the Office of Management and Budget (OMB). Trump named Mulvaney as acting […]
  • American Financial Services Association
  • June 22, 2018
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MoneySKILL Now Available in Spanish

PRESS RELEASE — On June 12, the American Financial Services Education Foundation (AFSAEF)  launched the Spanish language version of its free online personal finance course, MoneySKILL. “The Hispanic population in the United States continues to grow and it’s important that we reach them with helpful financial literacy tools like MoneySKILL en Español,” said Rhonda Ashburn, […]
  • American Financial Services Association
  • June 21, 2018
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AFSA Comments on NYC Proposed Rules for Secondhand Auto Dealers

On Feb. 28, the American Financial Services Association (AFSA) submitted a comment letter to the New York City Department of Consumer Affairs regarding the Department’s proposed rules for secondhand auto dealers. The proposed rules would implement Local Laws 197 and 198 of 2017, which passed the City Council in September. The laws and proposed rules […]
  • American Financial Services Association
  • March 2, 2018
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