Protecting Consumer Credit

We’re Here To Set The Record Straight

The American Financial Services Association represents member companies that offer a variety of different consumer credit products including personal or “small dollar” loans, vehicle financing, mortgages and credit cards.

These types of financial companies have been around for more than a century, and many continue to operate in communities across the country where their offices have met the needs of multiple generations of consumers. They serve all consumers – those with good credit, as well as those with imperfect credit – because all consumers deserve responsible alternatives to gray- or black-market loans, or so-called payday lenders that offer short-term cash with triple-digit interest rates and strings attached.

Consumer credit lenders are regulated and subject to ongoing, rigorous state examinations. Our members are compliant with all governmental regulations and standards at the local, state and federal levels. We are committed to our customers.

Activist groups, however, are distorting the facts regarding responsible lending, while encouraging and supporting misguided legislation that will harm all consumers and deny credit to tens of millions of consumers.

Financial Literacy

Understanding the consumer credit products available to you can help you make the most informed decisions for your family and take control of your financial future. There are a wealth of resources available to consumers from a variety of different sources. AWARE provides key information for consumers as they shop for a new vehicle, including things to consider when selecting a vehicle, arranging financing and what to expect at the dealer.

MoneySKILL offers free financial literacy courses to more than 1.1 million high school and college students nationwide and is available to the public. The curriculum covers budgeting, lending options, credit reports and more.

 

 

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