The Community Financial Services Association of America was formed in 1999 to promote laws and regulations that protect consumers while preserving access to credit options and to support and encourage responsible practices within the short-term loan industry.
CFSA’s member companies represent more than half of all traditional small-dollar loan storefronts across the country, in more than 30 states. Our members provide credit to more than 19 million households, as well as a wide range of other financial products and services, including check cashing, installment and auto title loans, prepaid debit cards, as well as bill payment and tax preparation services.
Our members’ storefront locations put us in the heart of many financially underserved communities. CFSA members are heavily regulated at the federal level and in the individual states where they operate. Additionally, to serve our customers responsibly, CFSA has developed a set of Best Practices that begin with compliance with all applicable state and federal laws, and also cover everything from advertising to collection practices. Our members hold themselves to a higher standard, and we believe that these practices differentiate our members from other providers in the small-dollar credit industry.
The industry trade groups challenging the CFPB’s final rule on Payday, Vehicle Title, and Certain High-Cost Installment Loans (the Rule) have filed their combined opposition to the CFPB’s cross-motion for summary judgment and reply to the CFPB’s opposition to the trade groups’ motion for summary judgment. ...
November 30, 2020
Alliance creates a collective of companies dedicated to meeting the needs of consumers in a diverse and evolving financial services marketplace
October 6, 2020
The industry trade groups challenging the CFPB’s final Rule on Payday, Vehicle Title, and Certain High-Cost Installment Loans (the Rule) filed their Amended Complaint in accordance with the briefing schedule recently entered by the court....
August 31, 2020