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CFSA Encouraging Members to Extend Flexibility in Small-Dollar Loan Repayment During COVID-19

March 30, 2020 | Press Releases

As businesses across the country temporarily close stores, reduce employee hours or implement other responsive measures to the growing coronavirus (COVID-19) pandemic, the Community Financial Services Association of America (CFSA) is encouraging......

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Beware of Scammers and Fraudsters during COVID-19

March 25, 2020 | Press Releases

CFSA and its member companies are committed to continuing to meet your needs safely and responsibly while we all adjust to the ongoing coronavirus (COVID-19) pandemic. However, some bad actors are using this public health situation as an opportunity to steal your money, personal information, or both. ...

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COVID-19 Guidance

March 20, 2020 | Press Releases

CFSA and its members are actively monitoring the situation as coronavirus (COVID-19) continues to spread, and are taking necessary precautions to ensure the health and safety of their customers, employees and communities....

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CFSA-FiSCA Joint Statement on COVID-19

March 19, 2020 | Press Releases

In response to the COVID-19 pandemic and its impact on the consumer financial services industry, the Community Financial Services Association of America (CFSA) and the Financial Service Centers of America (FiSCA) jointly issued the following statement on behalf of FiSCA Executive Director, Ed D’Alessio, and CFSA Chairman, D. Lynn DeVault....

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In The News: Listen to History, Borrowers to understand impact of proposed rate caps

February 23, 2020 | CFSA Commentary

When developing policy, it’s common sense to listen to those who stand to be the most impacted. Yet attempts to enact a 36 percent annual interest rate cap on short-term, small-dollar loans are being guided by outside interest groups with little regard for the consequences or the financial realities of many Americans. ...

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In The News: Interest Loan Caps Have a Record of Failure

January 24, 2020 | CFSA Commentary

Rather than restricting access to loans that customers value and forcing them into worse outcomes, policymakers should work toward real financial inclusion and ensure that all Hoosiers have access to legal and licensed sources of credit. ...

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In The News: Not All Small-Dollar Lenders Are The Same

January 11, 2020 | CFSA Commentary

In 2020, the CFPB and Congress should work to protect access to licensed and regulated lenders and focus on tackling the very real problem of unlicensed, unregulated, illegal or otherwise unscrupulous lenders trying to take advantage of Utahns....

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CFSA Statement on New CFPB Report on Financial Well-Being by State

November 14, 2019 | Press Releases

It is not surprising to see that nearly 57 percent of Americans would struggle to bridge a financial gap or pay an unexpected expense of $2,000. One of the many reasons millions of Americans choose to use small-dollar loans every year is to bridge financial gaps. ...

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