Allied ProgressвЂ™ Public Comment to CFPB Details the tens of thousands of Suspiciously Identical Pro-Payday вЂPersonalвЂ™ Stories Submitted, Urges Payday defenses Be Preserved
View Congresswoman TlaibвЂ™s Questioning Right Right Here
WASHINGTON, D.C. вЂ” Reports in the cash advance industryвЂ™s renewed efforts to control the CFPBвЂ™s payday financing rulemaking procedure had been raised at a Congressional hearing today examining the Trump-CFPB proposition to kill payday defenses вЂ“ including some reports centered on customer advocacy team Allied ProgressвЂ™ 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 вЂњneeded to restore my heated water tank.вЂќ
Congresswoman Rashida Tlaib (D-MI) asked a CFPB official testifying today in the event that bureau can вЂњensure fake remarks are filtered and that whenever industry players abuse the remark procedure, they’ll certainly be held accountable?,вЂќ incorporating later on that she вЂњlooks ahead into the bureau using meaningful and action that is swift guarantee this procedure is perhaps not corrupted.вЂќ
Allied Progress indicated comparable issues with its formal general public remark submitted into the CFPB (See excerpts below).