WASHINGTON–A customer team is accusing the trade relationship for the pay day loan industry of fabricating a few of the “personal” stories it offers included in a news release it published that reported the CFPB had been ignoring “positive” stories from cash advance clients.
Allied Progress, which defines itself as a nationwide nonprofit grassroots company that utilizes research that is“hard-hitting innovative campaigns to carry effective special passions accountable and empower hardworking Americans,” claims that a news release released by the Community Financial solutions Association (CFSA) that chastised the CFPB utilizing the headline, “CFPB Buried, Ignored Positive Payday Loan Customer вЂTell Your Story’ Testimonials It Requested,” failed “to mention…that a majority of these supposedly вЂpersonal’ submissions included a number of the same sentences and paragraphs.”
Allied Progress said it really is calling regarding the CFPB to more closely scrutinize the pro-industry “personal” stories it gets, along with general general general public responses submitted in opposition to its proposed rule on payday, automobile name, along with other high-cost installment loans.
“The demand follows an analysis because of the company that identified purportedly unique tales and opinions presented right to the CFPB in opposition to your proposed guideline plus in help associated with payday financing industry, including an alarming amount of identical passages,” Allied Progress stated.
“Payday loan providers can not be trusted to deal genuinely aided by the customer Financial Protection Bureau.
Read moreCash Advance Trade Group Accused Of Production вЂPositive’ Stories