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American Financial Services Association

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Namestring
American Financial Services Association
Legal namestring
American Financial Services Association
Websiteurl
afsaonline.org
Company typeenum
Private
Founded yearint
1916
Descriptiontext

The American Financial Services Association (AFSA) is a U.S. national consumer credit trade association founded in 1916 and headquartered in Washington, DC. It represents over 410 member companies spanning every segment of the consumer credit marketplace — including traditional installment lenders, direct and indirect vehicle finance companies, mortgage lenders and servicers, payment card issuers, and non-vehicle retail credit providers — and connects them to what the organization characterizes as the $3 trillion consumer credit industry. AFSA's mission is to advocate for safe, ethical lending to responsible, informed borrowers and to protect consumers' access to credit and choice. The association is governed by a Board of Directors of up to 56 members elected by the membership at the annual meeting.

AFSA's core technology stack is built around two member-facing proprietary platforms: AFSA*Track, a web-based legislative and regulatory monitoring system covering all 50 states and the federal government, accessible year-round to enable tailored monitoring of issues relevant to each member company; and AFSA University, a member-only compliance and operations training platform providing templates, sample documents, and training on the components of a robust compliance management system. Complementary consumer-facing assets include the MoneySKILL free 37-module personal finance curriculum (used by more than one million students in the U.S. and internationally), AWARE (Americans Well-Informed on Automobile Retailing Economics), and Case for Credit. The association also operates the AFSA Education Foundation, a 501(c)(3) affiliate, and AFSAPAC, its political action committee.

AFSA's revenue model is diversified across four primary streams: recurring annual membership dues from Financial Institution members (consumer and sales finance companies, mortgage lenders, payment card issuers, vehicle finance sources); flat-fee recurring Business Partner memberships at Silver, Gold, Platinum, and Premier tiers, with tier classification tied to completion of annual marketing agreements encompassing exhibits, advertising, thought leadership, and sponsorships; conference, exhibit, and sponsorship transaction revenue (e.g., the 2026 Vehicle Finance Conference & Expo at Bellagio, 2026 Annual Meeting at The Breakers); and professional services revenue from education and training programs (AFSA University, The Edge management program at Mercer University, Leadership Development Program at UNC Kenan-Flagler, webinars, and the Extra Credit Podcast). Membership dues are not publicly disclosed. The association maintains offices at 1750 H St NW, Suite 650, Washington, DC, and is led by President & CEO Celia Winslow, who was elected by the Board in 2025.

Short descriptiontext

The American Financial Services Association is a U.S. national consumer credit trade association founded in 1916 that represents over 410 member companies across every segment of the consumer credit marketplace, providing federal and state advocacy, legislative tracking via AFSA*Track, compliance training, conferences, and financial literacy education through the MoneySKILL curriculum and AWARE initiative.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
11–50
akta.pro rankint
HeadquartersWashington, United States
HQ citystring
Washington
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Keyword5 values
consumer credit advocacy, trade association services, regulatory monitoring platform, compliance training programs, financial literacy education
Industry1 code
1Export Credit Agencies (ECAs) & Trade Finance Institutions
CodeBPADACAFPrimaryYes
NAICS code1 code
  • Business Associations813910
SIC code1 code
  • Services-Membership Organizations8600
Product category
Consumer Credit Trade Association
GTM motion3 records

Each record includes

Type, Description, Source

Revenue model5 records
1Financial Institution Membership Dues
TypeSubscription Recurring
Description

Recurring membership dues paid by lender member companies (consumer and sales finance companies, traditional installment lenders, mortgage lenders/servicers, payment card issuers, vehicle finance/leasing sources). AFSA serves over 410 member companies from every segment of the consumer credit marketplace.

afsaonline.org
2Business Partner Membership Dues
TypeSubscription Recurring
Description

Flat-fee recurring membership paid by industry suppliers/service providers 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. Dues are prorated or extended depending on join date.

afsaonline.org
3Conference Registration, Exhibits, Advertising and Sponsorships
TypeTransaction Fee
Description

AFSA Business Partners that complete annual marketing agreements encompassing exhibits, advertising, thought leadership, and sponsorships are eligible for Business Partner Tier classification (Silver/Gold/Platinum/Premier) with additional benefits including complimentary meeting registrations, free advertising, and exclusive events with AFSA's Board of Directors.

afsaonline.org
4Education and Training Revenue (AFSA University / Education Foundation)
TypeProfessional Services
Description

Revenue derived from leadership development programs (EDGE management program at Mercer University in Atlanta; second program at UNC Kenan-Flagler), webinars, podcasts (Extra Credit Podcast), and continuing education programs for mid-level and senior employees at member companies.

afsaonline.org
5Thought Leadership and Sponsored Content Revenue
TypeAdvertising
Description

Revenue from sponsored blog posts, webinars, podcast appearances (Extra Credit Podcast), and Business Partner Resource Guide listings. 'Industry Expertise' sponsored content series produced by AFSA Business Partners provides thought leadership for member companies.

afsaonline.org
Cost components5 values
Personnel, Operations, Marketing or Sales, Technology or R&D, Others
Pricing details3 tiers
1Business Partner Membership (flat fee, prorated)
ModelSubscriptionBilling cadenceAnnual
afsaonline.org
2Premier Business Partner Tier (Silver / Gold / Platinum / Premier)
ModelOtherBilling cadenceAnnual
afsaonline.org
3Financial Institution Membership Dues
ModelSubscriptionBilling cadenceAnnual
afsaonline.org
GTM typeB2B
B2B
Offering typeServices
Services
Brand1 of 7 records shown
1AFSA Education Foundation
Description

Nonprofit affiliate delivering the MoneySKILL free personal-finance curriculum and continuing education programs (The Edge and Leadership Development Program) for member-company employees.

afsaonline.org
+6 more records
Core offering1 text field

AFSA is the national U.S. trade association for the consumer credit industry, serving 410+ member companies through industry advocacy, proprietary legislative and regulatory monitoring (AFSA*Track), member compliance and operations training (AFSA University), and consumer financial literacy programs. It generates revenue primarily from annual membership dues of Financial Institution and Business Partner members, supplemented by conference registration, exhibits, sponsorships, and educational programming.

Differentiator
Functional benefit
Problem solved
Product and service9 records
1AFSA Financial Institution Membership
CategoryMembership
2AFSA Business Partner Membership (Silver, Gold, Platinum, Premier tiers)
CategoryMembership
3AFSA*Track
CategoryRegulatory Intelligence Platform
4AFSA University
CategoryCompliance Training
5MoneySKILL Financial Literacy Curriculum
CategoryConsumer Financial Literacy
6AWARE (Americans Well-Informed on Automobile Retailing Economics)
CategoryConsumer Education
7Case for Credit
CategoryConsumer Advocacy
8AFSAPAC
CategoryPolitical Advocacy
9Business Partner Resource Guide
CategoryMember Directory
Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight6 records

Each record includes

Type, Description

Peers10 records
TypeDirect peer
Description

Trade association representing retail banks and consumer finance providers, with overlapping membership in installment lending, mortgage, and consumer credit. Directly comparable to AFSA in member-driven advocacy, conferences, and federal government affairs operations.

TypeDirect peer
Description

Trade association for online lending and fintech companies. Co-litigated alongside AFSA in the June 2026 Oregon DCBS lawsuit, signaling shared advocacy priorities and a directly comparable membership-based trade association model focused on consumer credit.

3National Association of Industrial Bankers
TypeDirect peer
Description

Trade association for industrial banks and specialty lenders in consumer and commercial credit. Co-plaintiff with AFSA in the Oregon DCBS federal suit; operates a similar small-staff, member-driven, advocacy-focused model in adjacent consumer-finance segments.

TypeBroad incumbent
Description

The largest U.S. banking industry trade association, representing banks of all sizes. Overlaps with AFSA on consumer credit, mortgage, and payment card policy but operates at a significantly larger scale and broader industry scope, making it a broad incumbent rather than a direct peer.

TypeBroad incumbent
Description

Trade association for community banks with overlapping interests in consumer installment lending, mortgage, and small-business credit. Larger and broader in scope than AFSA but addresses many of the same member segments on regulatory and compliance issues.

TypeBroad incumbent
Description

Policy and advocacy organization for major U.S. banks. Operates a large government-affairs function and overlapping advocacy on CFPB, consumer credit, and payments regulation, competing for influence in Washington against AFSA's narrower consumer-credit agenda.

7National Association of Federally-Insured Credit Unions
TypeBroad incumbent
Description

Trade association for federally insured credit unions, with significant overlap in consumer lending, mortgage, and member regulatory compliance issues. Comparable business model (membership dues, conferences, advocacy) but with a different regulated industry vertical.

TypeOthers
Description

Trade association for franchised auto dealers, deeply connected to vehicle finance and F&I regulation that overlaps with AFSA's Vehicle Finance Division. Adjacent rather than competing - represents the dealer side of transactions AFSA members finance.

TypeOthers
Description

Consumer advocacy organization frequently engaged in opposing AFSA positions on rate caps, small-dollar lending, and disclosure rules. Not a commercial peer but a strategic counterparty whose advocacy directly shapes the policy environment AFSA operates in.

TypeRegional player
Description

Trade association for business-to-business credit and collections professionals. Compares to AFSA in membership-trade-association model and federal advocacy focus, but serves commercial credit rather than consumer credit, making it a partial regional/vertical analog.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat5 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights7 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Ideal customer profile2 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
Yes
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature5 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles5 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

Subsidiaries2 records

Each record includes

Name, Acquired on, Relationship type, Type, Business focus

Compliance1 record

Each record includes

Name, Class, Description

Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

American Financial Services Association

Consumer Credit Trade Associationafsaonline.org

The American Financial Services Association is a U.S. national consumer credit trade association founded in 1916 that represents over 410 member companies across every segment of the consumer credit marketplace, providing federal and state advocacy, legislative tracking via AFSA*Track, compliance training, conferences, and financial literacy education through the MoneySKILL curriculum and AWARE initiative.

What American Financial Services Association does

The American Financial Services Association (AFSA) is a U.S. national consumer credit trade association founded in 1916 and headquartered in Washington, DC. It represents over 410 member companies spanning every segment of the consumer credit marketplace — including traditional installment lenders, direct and indirect vehicle finance companies, mortgage lenders and servicers, payment card issuers, and non-vehicle retail credit providers — and connects them to what the organization characterizes as the $3 trillion consumer credit industry. AFSA's mission is to advocate for safe, ethical lending to responsible, informed borrowers and to protect consumers' access to credit and choice. The association is governed by a Board of Directors of up to 56 members elected by the membership at the annual meeting.

AFSA's core technology stack is built around two member-facing proprietary platforms: AFSA*Track, a web-based legislative and regulatory monitoring system covering all 50 states and the federal government, accessible year-round to enable tailored monitoring of issues relevant to each member company; and AFSA University, a member-only compliance and operations training platform providing templates, sample documents, and training on the components of a robust compliance management system. Complementary consumer-facing assets include the MoneySKILL free 37-module personal finance curriculum (used by more than one million students in the U.S. and internationally), AWARE (Americans Well-Informed on Automobile Retailing Economics), and Case for Credit. The association also operates the AFSA Education Foundation, a 501(c)(3) affiliate, and AFSAPAC, its political action committee.

AFSA's revenue model is diversified across four primary streams: recurring annual membership dues from Financial Institution members (consumer and sales finance companies, mortgage lenders, payment card issuers, vehicle finance sources); flat-fee recurring Business Partner memberships at Silver, Gold, Platinum, and Premier tiers, with tier classification tied to completion of annual marketing agreements encompassing exhibits, advertising, thought leadership, and sponsorships; conference, exhibit, and sponsorship transaction revenue (e.g., the 2026 Vehicle Finance Conference & Expo at Bellagio, 2026 Annual Meeting at The Breakers); and professional services revenue from education and training programs (AFSA University, The Edge management program at Mercer University, Leadership Development Program at UNC Kenan-Flagler, webinars, and the Extra Credit Podcast). Membership dues are not publicly disclosed. The association maintains offices at 1750 H St NW, Suite 650, Washington, DC, and is led by President & CEO Celia Winslow, who was elected by the Board in 2025.

American Financial Services Association firmographics

Firmographics
Name
American Financial Services Association
Legal name
American Financial Services Association
Website
https://afsaonline.org
Company type
Private
Founded year
1916
Operating status
Operating
Headcount range
11–50 employees
Short description
The American Financial Services Association is a U.S. national consumer credit trade association founded in 1916 that represents over 410 member companies across every segment of the consumer credit marketplace, providing federal and state advocacy, legislative tracking via AFSA*Track, compliance training, conferences, and financial literacy education through the MoneySKILL curriculum and AWARE initiative.
Ownership category
akta.pro rank

American Financial Services Association industry classification

Industry
Product category
Consumer Credit Trade Association
NAICS
Business Associations (813910)
SIC
Services-Membership Organizations (8600)
akta.pro primary industry
Export Credit Agencies (ECAs) & Trade Finance Institutions (BPADACAF)

Keywords

  • Consumer credit advocacy
  • Trade association services
  • Regulatory monitoring platform
  • Compliance training programs
  • Financial literacy education

Where American Financial Services Association is headquartered

Location

Headquarters

HQ city
Washington
HQ country
United States
HQ region
North America

Markets served

American Financial Services Association business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

  1. Financial Institution Membership Dues: Recurring membership dues paid by lender member companies (consumer and sales finance companies, traditional installment lenders, mortgage lenders/servicers, payment card issuers, vehicle finance/leasing sources). AFSA serves over 410 member companies from every segment of the consumer credit marketplace.
  2. Business Partner Membership Dues: Flat-fee recurring membership paid by industry suppliers/service providers 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. Dues are prorated or extended depending on join date.
  3. Conference Registration, Exhibits, Advertising and Sponsorships: AFSA Business Partners that complete annual marketing agreements encompassing exhibits, advertising, thought leadership, and sponsorships are eligible for Business Partner Tier classification (Silver/Gold/Platinum/Premier) with additional benefits including complimentary meeting registrations, free advertising, and exclusive events with AFSA's Board of Directors.
  4. Education and Training Revenue (AFSA University / Education Foundation): Revenue derived from leadership development programs (EDGE management program at Mercer University in Atlanta; second program at UNC Kenan-Flagler), webinars, podcasts (Extra Credit Podcast), and continuing education programs for mid-level and senior employees at member companies.
  5. Thought Leadership and Sponsored Content Revenue: Revenue from sponsored blog posts, webinars, podcast appearances (Extra Credit Podcast), and Business Partner Resource Guide listings. 'Industry Expertise' sponsored content series produced by AFSA Business Partners provides thought leadership for member companies.

Pricing tiers

ModelBillingPrice
SubscriptionAnnualBusiness Partner Membership (flat fee, prorated)
OtherAnnualPremier Business Partner Tier (Silver / Gold / Platinum / Premier)
SubscriptionAnnualFinancial Institution Membership Dues

Go-to-market motion3 records

American Financial Services Association product offering

Product offering

Core offering

AFSA is the national U.S. trade association for the consumer credit industry, serving 410+ member companies through industry advocacy, proprietary legislative and regulatory monitoring (AFSA*Track), member compliance and operations training (AFSA University), and consumer financial literacy programs. It generates revenue primarily from annual membership dues of Financial Institution and Business Partner members, supplemented by conference registration, exhibits, sponsorships, and educational programming.

Differentiator

Problem solved

Functional benefit

Brands

  • AFSA Education Foundation: Nonprofit affiliate delivering the MoneySKILL free personal-finance curriculum and continuing education programs (The Edge and Leadership Development Program) for member-company employees.
  • MoneySKILL
  • AWARE (Americans Well-Informed on Automobile Retailing Economics)
  • Case for Credit
  • AFSA*Track
  • Extra Credit Podcast
  • AFSAPAC

Products and services

  • AFSA Financial Institution Membership
  • AFSA Business Partner Membership (Silver, Gold, Platinum, Premier tiers)
  • AFSA*Track
  • AFSA University
  • MoneySKILL Financial Literacy Curriculum
  • AWARE (Americans Well-Informed on Automobile Retailing Economics)
  • Case for Credit
  • AFSAPAC
  • Business Partner Resource Guide

Companies that use American Financial Services Association

Customer profile

Ideal customer profiles2 records

American Financial Services Association technology and API

Technology

Technology focussed Yes

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature5 records

American Financial Services Association partnerships and signals

Strategic signal

Recent moves6 records

Expansion highlights6 records

American Financial Services Association competitors and assessment

Company assessment

Direct peers

  • Consumer Bankers Association: Trade association representing retail banks and consumer finance providers, with overlapping membership in installment lending, mortgage, and consumer credit. Directly comparable to AFSA in member-driven advocacy, conferences, and federal government affairs operations.
  • Online Lenders Alliance: Trade association for online lending and fintech companies. Co-litigated alongside AFSA in the June 2026 Oregon DCBS lawsuit, signaling shared advocacy priorities and a directly comparable membership-based trade association model focused on consumer credit.
  • National Association of Industrial Bankers: Trade association for industrial banks and specialty lenders in consumer and commercial credit. Co-plaintiff with AFSA in the Oregon DCBS federal suit; operates a similar small-staff, member-driven, advocacy-focused model in adjacent consumer-finance segments.

Broad incumbents

  • American Bankers Association: The largest U.S. banking industry trade association, representing banks of all sizes. Overlaps with AFSA on consumer credit, mortgage, and payment card policy but operates at a significantly larger scale and broader industry scope, making it a broad incumbent rather than a direct peer.
  • Independent Community Bankers of America: Trade association for community banks with overlapping interests in consumer installment lending, mortgage, and small-business credit. Larger and broader in scope than AFSA but addresses many of the same member segments on regulatory and compliance issues.
  • Bank Policy Institute: Policy and advocacy organization for major U.S. banks. Operates a large government-affairs function and overlapping advocacy on CFPB, consumer credit, and payments regulation, competing for influence in Washington against AFSA's narrower consumer-credit agenda.
  • National Association of Federally-Insured Credit Unions: Trade association for federally insured credit unions, with significant overlap in consumer lending, mortgage, and member regulatory compliance issues. Comparable business model (membership dues, conferences, advocacy) but with a different regulated industry vertical.

Others

  • National Automobile Dealers Association: Trade association for franchised auto dealers, deeply connected to vehicle finance and F&I regulation that overlaps with AFSA's Vehicle Finance Division. Adjacent rather than competing - represents the dealer side of transactions AFSA members finance.
  • National Consumer Law Center: Consumer advocacy organization frequently engaged in opposing AFSA positions on rate caps, small-dollar lending, and disclosure rules. Not a commercial peer but a strategic counterparty whose advocacy directly shapes the policy environment AFSA operates in.

Regional players

  • National Association of Credit Management: Trade association for business-to-business credit and collections professionals. Compares to AFSA in membership-trade-association model and federal advocacy focus, but serves commercial credit rather than consumer credit, making it a partial regional/vertical analog.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

American Financial Services Association social profiles

Digital presence

American Financial Services Association compliance and trust

Trust signal

Compliance1 record

American Financial Services Association financial estimates

Financial estimate

Revenue estimate

Valuation estimate

American Financial Services Association leadership team

Management profile

Number of profiles

Profiles5 records

American Financial Services Association subsidiaries and ownership

Company hierarchy

Subsidiaries2 records

American Financial Services Association funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

American Financial Services Association M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about American Financial Services Association

What does American Financial Services Association do?

AFSA is the national U.S. trade association for the consumer credit industry, serving 410+ member companies through industry advocacy, proprietary legislative and regulatory monitoring (AFSA*Track), member compliance and operations training (AFSA University), and consumer financial literacy programs. It generates revenue primarily from annual membership dues of Financial Institution and Business Partner members, supplemented by conference registration, exhibits, sponsorships, and educational programming.

Is American Financial Services Association a public or private company?

American Financial Services Association is a private company. It is classified as nonprofit foundation owned and is currently operating.

When was American Financial Services Association founded?

American Financial Services Association was founded in 1916. It employs 11 to 50 people.

Where is American Financial Services Association based?

American Financial Services Association is headquartered in Washington, United States, in the North America region.

How does American Financial Services Association make money?

Five revenue lines are on record. Financial Institution Membership Dues are the primary driver. The others are business Partner Membership Dues, conference Registration, Exhibits, Advertising and Sponsorships, education and Training Revenue (AFSA University / Education Foundation) and thought Leadership and Sponsored Content Revenue.

Who are American Financial Services Association's main competitors?

Direct peers on record are Consumer Bankers Association, Online Lenders Alliance and National Association of Industrial Bankers. Broad incumbents are American Bankers Association, Independent Community Bankers of America, Bank Policy Institute and National Association of Federally-Insured Credit Unions. Others are National Automobile Dealers Association and National Consumer Law Center. National Association of Credit Management is listed as a regional player.

Does American Financial Services Association have an API?

No public API is recorded for American Financial Services Association.

What industry is American Financial Services Association in?

American Financial Services Association's product category is Consumer Credit Trade Association. Its primary akta.pro industry code is BPADACAF, Export Credit Agencies (ECAs) & Trade Finance Institutions. Its NAICS code is 813910 and its SIC code is 8600.

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Live signals
American BankerWhy the consumer credit outlook for 2H looks cloudierThe American Financial Services Association's quarterly survey found consumer credit companies' business outlook turned negative for the first time in two years during Q2, with the six-month outlook index dropping to -13.2 from 19.5 in Q1. Lenders cited concerns about rising interest rates and declining loan performance, with over half of respondents reporting worsening conditions for subprime borrowers. The survey also noted that the U.S.-Iran conflict has pushed gas prices above $4 per gallon, contributing to financial stress among households.HousingWireHouse lawmakers weigh FCRA changes, CFPB complaint limitsThe House Financial Services Subcommittee on Financial Institutions held a hearing on Thursday examining Republican-backed bills to amend the Fair Credit Reporting Act, expand alternative data use in credit files, and tighten CFPB complaint controls. Witnesses including representatives from the Consumer Data Industry Association, American Financial Services Association, and American Bankers Association testified on issues including "credit washing" fraud and proposed liability caps for credit reporting lawsuits, while the National Consumer Law Center and Democrats opposed the bills as reducing consumer accountability. The Mortgage Bankers Association separately submitted testimony citing credit reporting cost increases of up to 350% and projected hikes of 40-50% in 2026, urging elimination of the tri-merge requirement for Fannie Mae and Freddie Mac-backed mortgages.AutonewsWhat’s the best way to handle the vehicle affordability issue? Auto finance leaders weigh inSatyan Merchant of TransUnion stated that lenders must utilize advanced tools and data to better understand customers in response to vehicle affordability challenges. This perspective was shared during the American Financial Services Association Vehicle Finance Conference & Expo held in Las Vegas on February 1.Mother JonesInside the Last Minute Fight on Legislation for Victims of Coerced Debt in New YorkThe New York State legislature passed a bill in June that would allow victims of coerced debt to petition creditors to have debt transferred from their name to their abuser, with Governor Kathy Hochul facing a December 19 deadline to sign the legislation. Financial industry groups, including the American Financial Services Association, are lobbying Hochul's office to modify the bill with provisions that advocates say would increase barriers for victims seeking relief. If signed, New York would join Texas, Maine, California, Minnesota, and Connecticut in providing legal remedies for this form of financial abuse affecting domestic violence survivors.CawaCalifornia Automotive Wholesalers' AssociationA study commissioned by the American Financial Services Association (AFSA) and conducted with Oxford Economics reports that vehicle financing and personal lending contributed over $145 billion to the U.S. GDP in 2023, supporting nearly 840,000 jobs nationwide. The analysis highlights significant economic impacts in Texas and California, which together accounted for more than $36 billion of this total GDP contribution.PR NewswireNew AFSA Survey Shows Consumer Credit Conditions Deteriorated in Q1 2024; Twice as Many Lenders Say Conditions "Worsened" Compared to "Improved"The American Financial Services Association (AFSA) released its Consumer Credit Conditions (C3) Index for Q1 2024, revealing that business conditions for consumer lenders deteriorated on balance compared to the previous quarter. The survey indicated a net worsening in loan demand, funding costs, and loan performance, although lenders expressed cautious optimism regarding improvements in the next six months.PR NewswireAFSA Statement on H.B. 132The American Financial Services Association (AFSA) issued a statement opposing H.B. 132, a New Mexico bill that would cap consumer loan interest rates at 36%. The association argues that such restrictions would reduce credit access for lower-income residents and push them toward unregulated lending options. This opposition coincides with the upcoming consideration of the bill by the New Mexico House Consumer and Public Affairs Committee.GlobeNewswireNETSOL Attains Five-Star Premier Business Partnership Level Status with the American Financial Services AssociationNETSOL Technologies signed an agreement to become a Five-Star Premier Business Partner of the American Financial Services Association (AFSA). The partnership will enable participation in marketing programs and events, supporting its role as an industry thought leader. The company has been an AFSA member since 2019.PR NewswirePersonal Loans 101Borrowing money can help individuals navigate financial emergencies, but it is crucial to understand the implications it might have on their future finances. Traditional installment loans, averaging around $1,500 with manageable payments, offer a flexible option for emergency needs, while payday loans can lead to challenging financial situations due to their lump-sum repayment structure. The American Financial Services Association Education Foundation emphasizes the importance of making informed borrowing decisions to prevent long-term financial difficulties.