Research and Surveys

Listen to small businesses, customers to craft small-dollar loan regulations

May 27, 2020 | CFSA Commentary

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.
...

Good riddance to lending rule that would have hurt business and consumers

May 22, 2020 | CFSA Commentary

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....

Cordray Resistance Aims to Rewrite CFPB's History

May 22, 2020 | CFSA Commentary

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......

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......

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. ...

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....

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....

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

February 23, 2020 | CFSA Commentary

By D. Lynn DeVault
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. ...