American Financial Services Association

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The American Financial Services Association (AFSA) is consumer credit industry trade association that lobbies, channels political contributions, and engages in public relations on behalf of its member companies.[1] It is a leading opponent of the Obama Administration's proposed Consumer Financial Protection Agency. It is also an opponent of the American Homebuyers Protection Act and the Emergency Home Ownership and Mortgage Equity Protection Act of 2007 and is a member of the front group Electronic Payments Coalition.[2]

Political contributions

The following is the American Financial Services Association political contributions to federal candidates through its political action committee as of October 2010.[3]

Election cycle Amount To Democrats To Republicans
2010 $283,100 15% 85%
2008 $144,800 51% 49%
2006 $224,358 25% 75%

Lobbying

AFSA spent $200,000 for lobbying in 2009 to attain legislation that it desired.[4]

The AFSA website states that it, "formulates and actively advocates the financial service industry's positions in legislative, regulatory and judicial settings. The department works with both Congress and regulatory agencies to achieve the industry's goals."[5]

Members

American Financial Services Association has over 325 member companies, from large diversified financial service companies to smaller companies that specialize in one industry segment such as cards, mortgage lending, or vehicle finance. Their website does not provide a membership list.[6]

Personnel

[2]

Board of Directors:

  • Chairman of the Board Sandy McLean, III Chairman & CEO World Acceptance Corporation
  • Chair-Elect Mary McDowell, Chairman & CEO CitiFinancial North America

Contact details

919 18th St, NW, Suite 300
Washington, D.C. 20006
Phone: 202-296-5544
Web: http://www.afsaonline.org

Resources and articles

Related SourceWatch articles

References

  1. Communications Committee, American Financial Services Association, accessed October 2010.
  2. 2.0 2.1 About, American Financial Services Association, accessed October 2010.
  3. 2008 PAC Summary Data, Open Secrets, accessed October 2010.
  4. AFSA lobbying expenses, Open Secrets, accessed October 2010.
  5. Federal government affairs, American Financial Services Association, accessed October 2010.
  6. Membership, American Financial Services Association, accessed October 2010.