| AFSPA |
lenders BUT the shit really hit the fan when it messed with gun dealers! "Operation Choke Point is one of the greatest threats to our nation's economic security and free enterprise. If the President can unilaterally decide what businesses should or should not exist, without the consent of the people or the representatives they elect, it will have enormous consequences for limited government and for our economy." - Former Speaker of the U.S. House of Representatives, Newt Gingrich House GOP Rams Through 2 New Deregulation Bills That Could Actually Shut Down All CFPB Efforts. WASHINGTON -- House Republicans pushed through two bills this week designed to undermine key environmental and financial regulations by jamming federal courts with lawsuits. "Both of these bills are part of an attack on the entire regulatory state," said Marcus Stanley, policy director at Americans for Financial Reform. "They're designed to make it impossible for agencies to function." The first bill, passed Wednesday, rejuvenates the Unfunded Mandates Reform Act of 1995, shepherded through Congress by then-House Speaker Newt Gingrich (R-Ga.). The 20-year-old legislation imposed a host of cost- benefit standards on federal regulators, including a requirement that they consider the costs that new rules might impose on state and local governments. Wednesday's GOP bill adds a new dimension to that law by allowing those detailed regulatory calculations to be challenged in federal court -- opening every stage of analysis to litigation that may make it nearly impossible for agencies to write and implement rules. Neither bill is likely to be enacted as standalone legislation, since Obama opposes both measures and this week's votes demonstrated that Republicans do not have enough Democratic support to override a veto. Nevertheless, GOP leaders may try to tuck either or both bills into a broader government funding bill or legislation to raise the debt limit -- arenas in which Obama has demonstrated a willingness to let Republican priorities be enacted.
Rep. Blaine Luetkemeyer, R-Mo., today reintroduced legislation to end the Justice Department initiative known as Operation Choke Point. “While steps have been made in the case against Operation Choke Point, there is still a need for my legislation to be reintroduced this Congress,” he said in a press release. The legislation, which Luetkemeyer previously introduced last November, comes one week after the Federal Deposit Insurance Corp. (FDIC) walked back its involvement in the program and reversed its policies in targeting legal and legitimate industries that are disfavored by the Obama administration.
Choke Point The Federal Deposit Insurance Corp. has acknowledged its role in Operation Choke Point and is taking dramatic steps to reverse its policies in targeting legal and legitimate industries that are disfavored by the Obama administration. “We’re very pleased they’ve acknowledged their wrongdoing and they’ve accepted our suggestions to put in place measures to stop this activity,” Rep. Blaine Luetkemeyer, R-Mo., told The Daily Signal in a phone call this morning. Luetkemeyer, a member of the House Financial Services Committee and leader in the fight to end Operation Choke Point, met with FDIC Chairman Martin Gruenbery and Vice Chairman Thomas Hoenig earlier today as a follow-up to concerns voiced last November. The Justice Department contends that Operation Choke Point combats unlawful, mass-market consumer fraud by “choking” their access to banking systems. But a report by the House Oversight Committee found the program’s targets, under direction of the FDIC, included legal businesses such as short-term lenders, firearms and ammunition merchants, coin dealers, tobacco sellers and home-based charities.
dollar lenders Statement on Providing Banking Services. The FDIC encourages insured depository institutions to serve their communities and recognizes the importance of the services they provide. Individual customers within broader customer categories present varying degrees of risk. Accordingly, the FDIC encourages institutions to take a risk- based approach in assessing individual customer relationships rather than declining to provide banking services to entire categories of customers, without regard to the risks presented by an individual customer or the financial institution’s ability to manage the risk. Financial institutions that can properly manage customer relationships and effectively mitigate risks are neither prohibited nor discouraged from providing services to any category of customer accounts or individual customer operating in compliance with applicable state and federal law. A new study released by a Kennesaw State University professor provides evidence against claims of payday loan critics that extended refinancing of these loans is harmful to consumers’ financial welfare. The study, which was based on the transactions of 37,000 borrowers over a four-year period, also found that borrowers who live in states with fewer refinancing restrictions fare better than those in more heavily regulated states. 2013 FDIC National Survey of Unbanked and Underbanked Households According to data provide by the FDIC, the estimated Alternative Financial Services transaction volume is $320 billion annually. That's a very conservative estimate. The FDIC provides the following statistical annual breakdown: • Buy Here, Pay Here Auto Loans = $80 billion • Check Cashing = $58 billion • Pay Day Loans = $48 billion • Remittances - $46 billion • Open Loop Prepaid Cards = $39 billion |
| AFSPA |
| AFSPA |
| AFSPA |
| AFSPA Association |
| AFSPA |
| Examination of Small-Dollar Credit Consumers |
| Payday Lending Statutes by State |
| LINKS |
| LINKS |
| AFSPA |
| Sherman and Associates the acknowledged leader in loan quotation software, including all credit insurance and debt protection methods. |
| RISK MANAGEMENT |
| DEBT BUYER |
| PAYMENT & CHECK PROCESSING |
| BUSINESS OPPORTUNITY |
| LOAN QUOTATION SOFTWARE |
| ADVERTISE |
| MARKETING |
| DATA / ANALYTICS |
| The Association of ALTERNATIVE FINANCIAL SERVICE BUSINESS OWNERS "We help you grow your business by providing you with the best information, research, data, support, relationships and by vetting and presenting the best available product and service providers for the alternative financial services industry." |
| RISK MANAGEMENT |
| INSURANCE SOLUTIONS |
| PAYMENT SOLUTIONS |
| Prepaid Mobile Airtime |
| AFSPA |
| banking and financial services law |
| LEGAL |
| PAYMENT PROCESSING |
| Copyright 2015 @ All rights reserved. |
| AFSPA |
| BUSINESS CONSULTING |
| LEAD GENERATION |
When you have a question...
| Click Here to |
STUDIES 2014 - Payday Loan Rollovers Do Not Harm Borrowers' Financial Welfare: Kennesaw State Study
Americans Who Have No Bank: Batten Institute University of Virginia Darden School of Business
Board of Governors of the Federal Reserve Board 2014 - Harris Poll: Payday Loans and the Borrower Experience: CFSA 2014 - Payday Loan Firm Profits Not Excessive: Vanderbilt/Oxford Study |
Does your company qualify to become an AFSPA "ENDORSED SUPPLIER"? Find out: dan@afspassociation.com |
| Buy Smart! Buy from AFSPA Endorsed Suppliers |
| Buy Smart! Buy from AFSPA Endorsed Suppliers |
| Over 5,000 members with over 85,000 retail locations and online operations in Alternative Financial Services: CHECK CASHING - PAYDAY - TITLE - PAWN - RENT-TO-OWN BUY HERE/PAY HERE - SUB-PRIME AUTO - INSTALLMENT - and more |
 |  |  |  |  |  |  |
