Cash Advance Trade Group Accused Of Production ‘Positive’ Stories

Cash Advance Trade Group Accused Of Production ‘Positive’ Stories

WASHINGTON–A customer group is accusing the trade relationship when it comes to pay day loan industry of fabricating a few of the “personal” stories this has included in a news release it published that stated the CFPB had been ignoring “positive” stories from cash advance clients.

Allied Progress, which defines itself being a nationwide nonprofit grassroots company that utilizes research that is“hard-hitting imaginative promotions to keep effective unique passions accountable and empower hardworking Americans,” claims that a pr release given by the Community Financial solutions Association (CFSA) that chastised the CFPB aided by 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 number of the identical sentences and paragraphs.”

Allied Progress said it really is calling from the CFPB to more closely scrutinize the pro-industry “personal” stories it receives, in addition to general general public reviews submitted in opposition to its proposed rule on payday, car name, along with other high-cost installment loans.

“The demand follows an analysis by the company that identified purportedly unique tales and comments submitted right to the CFPB in opposition into the proposed guideline as well as in help associated with payday financing industry, including an alarming range identical passages,” Allied Progress stated. (more…)