بایگانی دسته: payday cash loans online

Payday Industry’s ‘Fake’ CFPB Comments Criticized at Congressional Hearing, Adds stress on Kathy Kraninger to replace Integrity to Tainted Payday Rulemaking Process

Payday Industry’s ‘Fake’ CFPB Comments Criticized at Congressional Hearing, Adds stress on Kathy Kraninger to replace Integrity to Tainted Payday Rulemaking Process

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Allied Progress’ Public Comment to CFPB Details the tens of thousands of Suspiciously Identical Pro-Payday ‘Personal’ Stories Submitted, Urges Payday defenses Be Preserved

View Congresswoman Tlaib’s Questioning Right Right Here

WASHINGTON, D.C. — Reports in the cash advance industry’s renewed efforts to control the CFPB’s payday financing rulemaking procedure had been raised at a Congressional hearing today examining the Trump-CFPB proposition to kill payday defenses – including some reports centered on customer advocacy team Allied Progress’ findings that significantly more than 7,000 pro-payday responses used language that is suspiciously duplicative. As an example, over 200 remarks from purported borrowers claimed verbatim that a pay day loan was “needed to restore my heated water tank.”

Congresswoman Rashida Tlaib (D-MI) asked a CFPB official testifying today in the event that bureau can “ensure fake remarks are filtered and that whenever industry players abuse the remark procedure, they’ll certainly be held accountable?,” incorporating later on that she “looks ahead into the bureau using meaningful and action that is swift guarantee this procedure is perhaps not corrupted.”

Allied Progress indicated comparable issues with its formal general public remark submitted into the CFPB (See excerpts below).