Archive for the ‘2Nd Chance Payday Loans’ Category

Pay Day Loan Trade Group Accused Of Manufacturing ‘Positive’ Stories

Thursday, November 5th, 2020

Pay Day Loan Trade Group Accused Of Manufacturing ‘Positive’ Stories

WASHINGTON–A customer group is accusing the trade relationship for the loan that is payday of fabricating a few of the “personal” stories it offers included in a news release it published that stated the CFPB had been ignoring “positive” stories from pay day loan clients.

Allied Progress, which defines itself as a nationwide nonprofit grassroots company that makes use of “hard-hitting research and imaginative promotions to keep effective unique passions accountable and empower hardworking Americans,” claims that a pr release released because of the Community Financial solutions Association (CFSA) that chastised the CFPB because of the headline, “CFPB Buried, Ignored Positive Payday Loan Customer ‘Tell Your Story’ Testimonials It Requested,” failed “to mention…that a majority of these supposedly ‘personal’ submissions included a few of the very same sentences and paragraphs.”

Allied Progress said it’s calling in the CFPB to more closely scrutinize the pro-industry “personal” stories it gets, in addition to general public reviews submitted in opposition to its proposed rule on payday, car name, as well as other high-cost installment loans. (more…)