The Community Financial Services Association of America (CFSA) was established in 1999 to help ensure consumer confidence in, and long-term success of, the cash advance industry—one of the fastest-growing financial service industries in the United States. Today, CFSA is comprised of 164 member companies, representing more than half of the estimated 22 thousand cash advance locations nationally.

CFSA’s mission is to promote laws and regulations that protect consumers, while preserving their access to credit options, and to support and encourage responsible industry practices.

CFSA works aggressively at the local, state and national levels to educate legislators and regulators about the role of cash advances in the broader financial service arena. The majority of states have considered and enacted balanced and responsible legislation, with 37 states and the District of Columbia currently regulating cash advance services.

To help self-govern the membership and encourage responsible industry practices, CFSA introduced a set of mandatory “Best Practices” in early 2000. To be a member of CFSA, a cash advance provider must abide by these practices. CFSA’s Best Practices cover areas such as full disclosure of transaction terms, compliance with applicable state and federal regulations, appropriate collection practices, encouraging responsible use of the service and special protections that address the unique circumstances of military personnel who choose to use a cash advance.

CFSA is also proud to support special initiatives designed to help member companies promote their customers’ financial well being. The association’s CFSAccess program includes financial literacy initiatives such as promoting the FDIC’s Money Smart consumer education program through a partnership with the National Urban League. The association also has a partnership with PRBC, an innovative new credit reporting agency, allowing member companies’ customers to build their credit history by voluntarily having their cash advance repayments reported.

Since its founding, CFSA has and will continue to demonstrate its member companies’ commitment to listening to emerging concerns of consumers and policymakers and taking action to address their needs.

YES, I want to join thousands of other supporters who know that having financial choices is important to the free market. Georgians For Cash Advance supports the cash advance industry in keeping this vital sector of the Georgia economy.