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

WASHINGTON–A customer team is accusing the trade relationship when it comes to 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 being a nationwide nonprofit grassroots company that makes use of research that is“hard-hitting imaginative promotions to put on effective unique passions accountable and empower hardworking Americans,” claims that a news release given because of 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 number of these supposedly ‘personal’ submissions included a few of the very same sentences and paragraphs.”

Allied Progress said it really is calling regarding the CFPB to more closely scrutinize the“personal” that are pro-industry it gets, in addition to public reviews submitted in opposition to its proposed rule on payday, automobile name, as well as other high-cost installment loans. Continue reading