- About CFSA
- Policy Makers
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.
By Mickey Mays
The Consumer Financial Protection Bureau (CFPB) will soon release a final rule to fix the most glaring issues with its 2017 small-dollar lending rule, which stood to shutter hundreds of small businesses and leave millions of consumers without access to credit.
May 27, 2020
By Brian Lynn
Federal regulators at the Consumer Financial Protection Bureau (CFPB) are soon expected to roll back portions of a small-dollar lending rule titled, “Payday, Vehicle Title, and Certain High-Cost Installment Loans,” issued under former Director Richard Cordray. This is good news for Florida consumers and small businesses....
May 22, 2020
By Dennis Shaul
Critics of small-dollar lending are at it again, this time attacking the Consumer Financial Protection Bureau’s (CFPB) forthcoming reconsideration of the 2017 small-dollar lending rule. Politics, the critics claim, is behind the current rulemaking – a hypocritical allegation that has many of us scratching our heads in disbelief......
May 22, 2020