Allied ProgressвЂ™ Public Comment to CFPB Details the lots and lots of Suspiciously Identical Pro-Payday вЂPersonalвЂ™ Stories Submitted, Urges Payday defenses Be Preserved
Watch Congresswoman TlaibвЂ™s Questioning Right Right Here
WASHINGTON, D.C. вЂ” Reports from the cash advance industryвЂ™s renewed efforts to govern 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 according to customer advocacy team Allied ProgressвЂ™ findings that significantly more than 7,000 pro-payday reviews used suspiciously duplicative language. As an example, over 200 responses from purported borrowers claimed verbatim that a cash advance ended up being вЂњneeded to displace my heated water tank.вЂќ
Congresswoman Rashida Tlaib (D-MI) asked a CFPB official testifying today in the event that bureau can вЂњensure fake commentary are filtered and that whenever industry players abuse the remark procedure, they’ll be held accountable?,вЂќ incorporating later that she вЂњlooks ahead towards the bureau using meaningful and quick action to make sure this method just isn’t corrupted.вЂќ
Allied Progress indicated similar issues in its formal comment that is public towards the CFPB (See excerpts below).