Washington State Financial Services Association

ABOUT WSFSA

The Washington State Financial Services Association (“WSFSA”) is a member-driven organization comprised of community-based, responsible installment lenders who each hold a Consumer Loan License and are regulated, supervised, and examined by the Washington State Department of Financial Institutions. WSFSA members include lenders who have a demonstrated history of safely serving Washington borrowers since the 1940s. WSFSA members provide consumers with many kinds of consumer credit, including traditional installment loans, direct and indirect vehicle financing, and credit for non-vehicle retail customers. WSFSA members do not provide payday loans.

WSFSA strongly believes all Washington residents, particularly those with subprime and nonprime credit, benefit from access to safe and affordable credit with fair and reasonable terms. We support balanced laws and regulations that allow informed consumer choice, more access to credit, and promote responsible lending practices. Such laws and regulations will allow community-based lenders to expand their business in the state and contribute in a meaningful way to the state’s revenue and tax base.

WSFSA is dedicated to collaborating with the public, including legislators and community advocates, when it comes to studying, legislating, regulating, and advocating for consumer credit in Washington.

Members

Acme Finance Company

Credit Concepts

mariner finance

OneMain Financial

Reliable Credit Association

United Finance

Advocacy

Through the representation of Brewer Public Affairs, and the active involvement of association members, WSFSA champions the interests of Washington residents before the legislative and executive branches of state government by advocating for access to safe and affordable credit at fair and reasonable terms. Our key public policy principles and legislative objectives include:

Ensuring Consumer Access to Credit: Advocate for policies that encourage the availability of safe and affordable consumer credit for all Washingtonians, allowing them to navigate unexpected financial emergencies and pursue financial opportunities with confidence.

Promoting Responsible Lending Practices: Support strong regulations that promote transparency, fairness, and responsible lending, ensuring borrowers have access to clear and understandable terms that foster responsible credit management.

Protecting Consumer Choice: Champion policies that preserve a diverse and competitive financial services market, offering consumers a range of options that best suit their individual needs and circumstances.

Fostering Financial Education: Believe in empowering consumers with financial literacy and education, providing them with the tools to make informed decisions about credit and achieve greater financial well-being.

Supporting Economic Growth: Advocate for policies that encourage responsible lending practices while enabling community-based lenders to expand their businesses, create jobs, and contribute to the growth of the state's economy.