Chapter 11: Industry Associations
IN THIS LESSON
State
In addition to the Consumer Finance National Association, each state has its own association.
Consumer finance regulations and oversight can vary from state to state in the United States. Each state may have its own laws and regulatory agencies that govern consumer finance companies. These state agencies are responsible for protecting consumers, ensuring fair lending practices, and regulating finance companies within their jurisdiction.
National
Community Financial Services Association of America
The Community Financial Services Association of America (CFSA) is the leading national association representing non-bank lenders that offer small-dollar credit products and other financial services. As consumers demand a more robust and diverse product mix to meet their evolving credit needs, CFSA members are paving the way in new product development and technology advances for the 21st-century consumer. They are committed to joining with policymakers and other stakeholders to develop regulations that keep pace with industry advancements and ensure safe and viable credit options remain available to consumers.
As the voice for the small-dollar, short-term lending industry, CFSA represents its members when working with policymakers, regulators and other key stakeholders on matters concerning non-bank financial services providers. The association’s Board of Directors draws on the experience and expertise of its members and the legislative reach of its federal and state government relations teams to support a strong and viable industry.
CFSA offers membership levels to both lenders and service providers.
CFSA’s initiatives and efforts are member-driven. The association offers lenders and industry partners and vendors, both large and small, the opportunity to participate in shaping and creating industry best practices, strategies, and policy priorities.
CFSA is the industry’s unified voice. The Board of Directors, CFSA staff and its federal and state government relations teams participate actively in policy-making forums, facilitating dialogue and producing innovative business and policy solutions and best practices for the industry.
CFSA is actively engaged in policy-making at the federal and state level. With its federal and state government relations teams in place, the association works in partnership with government leaders to ensure informed decision-making on policy and legislative matters concerning the industry.
