Home 2019-10-21T20:23:14+00:00

“Personal installment loans are often a critical lifeline for borrowers with limited credit options, allowing them to pay for unexpected expenses or to consolidate debts.”

- Assistant Attorney General Bill Baer, Justice Department Antitrust Division (2015)

“In both rich and poor countries alike, credit institutions have favored the rich and in so doing, have pronounced a death sentence on the poor… "

- Muhammad Yunus, Banker to the Poor (1999)

“We recognize the need for emergency credit. At the same time, it is important that these products actually help consumers, rather than harm them.”

-Richard Cordray, CFPB, Birmingham, AL (Jan 2013)

“Payday borrowers strongly support requiring the loans to have affordable installment payments.”

- Pew Charitable Trusts

New York Times on Military Lending

July 29th, 2022|Comments Off on New York Times on Military Lending

A woefully poor New York Times piece was the subject of a recent AFSA blog post aimed at providing some much-needed context. The article, Where Military Paychecks are Prime Targets was replete with mischaracterizations, [...]

SAVE THE DATE! NILA Annual Meeting in Washington DC (November 14 to 16, 2022)

June 29th, 2022|Comments Off on SAVE THE DATE! NILA Annual Meeting in Washington DC (November 14 to 16, 2022)

NILA’s Annual Meeting is to take place between November 14 and 16, 2022, at the Hotel Washington in Washington DC. The agenda is expected to follow the format of past years, with a welcome [...]

CFPB Changes Would Create Unfair Distrust of Named Companies

June 14th, 2022|Comments Off on CFPB Changes Would Create Unfair Distrust of Named Companies

Proposed changes to the Consumer Financial Protection Bureau’s (CFPB) Supervisory Authority Over Certain Nonbank Covered Persons were the subject of a comment letter from our friends at the American Financial Services Association (AFSA). The [...]

See what the people of Illinois have to say about the effect of the #installmentlending ban in the state #illinoislendinglaws

https://nilaonline.org/testimonials/

"Investing in the financial health of their workers could be a win-win for employers. Not only could it boost productivity and performance, but it also helps with retention." Wonderful piece by @Megan_Leonhardt for @FortuneMagazine https://fortune.com/2022/07/28/financial-stress-plagues-low-income-workers/

AFSA & its member companies prioritize protecting servicemembers’ access to credit. It’s time for the @CFPB, @DeptofDefense, @congressdotgov to work w/ the consumer credit industry on ways to empower & better equip our military w/ better access to credit. http://ow.ly/wy6V50K04qG

AFSA, with other associations, requested the @FTC delay the effective date of the final Standards for Safeguarding Customer Information Rule until Dec 2023. Why? http://ow.ly/R12150K3KNZ

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