Community Financial Services Association
About the Community Financial Services Association
The Community Financial Services Association of America, also known as CFSA, is a US-based organization catering to companies that offer small value short-term loans. Having been developed in 1999, the organization works to protect consumer rights, promote laws regulating fair payday lending practices, and to preserve access to fast cash loans for citizens of the United States.
Almost 50% of payday industry lenders in the US are members of the Community Financial Services Association of America (CFSA).
The Code of Best Practices
One of the main achievements of CFSA is its code of Best Practices, a document developed for lenders to ensure the highest standard of service. All members of CFSA are obligated to follow the code of Best Practices. This document is also useful for American consumers so that they fully understand the cost, risk and benefits of quick cash loans.
Another notable achievement of the CFSA is its $10 million education and advertising campaign which was launched to inform borrowers and improve common lending practices.