American Financial Services Association
Encyclopedia
American Financial Services Association (AFSA) is a trade association
Industry trade group
A trade association, also known as an industry trade group, business association or sector association, is an organization founded and funded by businesses that operate in a specific industry...

 for the U.S. consumer credit
Credit (finance)
Credit is the trust which allows one party to provide resources to another party where that second party does not reimburse the first party immediately , but instead arranges either to repay or return those resources at a later date. The resources provided may be financial Credit is the trust...

 industry headquartered in Washington, D.C.
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....

. AFSA’s 350 members include consumer and commercial finance companies, vehicle finance/leasing companies, mortgage lenders, credit card issuers, industrial banks and industry suppliers. AFSA is a founding member of Americans Well-informed on Automobile Retailing Economics
Americans Well-informed on Automobile Retailing Economics
AWARE is a national nonprofit organization that was formed in 2005 to enhance consumer understanding of the vehicle financing process..- Background :...

.

History

The association was founded in 1916 as the American Association of Small Loan Brokers. The group formed to promote state laws that would make small cash loans more readily available to average Americans, who had few options at the time to receive small personal loans. The association changed names several times throughout the years before its merger in 1971 with the American Industrial Bankers Association, an organization of industrial banks, thrift and loan companies and sales finance companies. By 1983, the association’s members included diversified financial services firms and consumer credit subsidiaries of retailing firms, prompting another name change to the American Financial Services Association, which it is still known as today.

AFSA Education Foundation

The AFSA Education Foundation (AFSAEF) is a non-profit AFSA affiliate with the mission to help consumers realize the benefits of responsible money management, understand the credit process and seek help if credit problems occur. AFSAEF offers a number of free publications for consumers on topics from holiday spending to vehicle financing. MoneySKILL is a free online personal finance course for high school students on money management fundamentals.

External links

The source of this article is wikipedia, the free encyclopedia.  The text of this article is licensed under the GFDL.
 
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