Continuing Saga of a Payday Loan Lead Generator & The CFPB

Published: Mon, 07/20/15

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"If this investigation to date has not been a pure fishing expedition motivated by an intent to indirectly throttle payday
lending through an attack on a lawful business perceived by CFPB and other federal and state departments and agencies to be a
“choke point” for payday lending, plainly CFPB must have some knowledge of the nature of the conduct it believes to be unlawful.”

“This investigation is entirely focused on Selling Source. We are well aware that since the beginning of 2015 at the latest, CFPB has had a formal or informal “MoneyMutual Team,” which may include involvement by state agencies such as the New York Department of Financial Services and other federal department or agencies. We know CFPB previously agreed to cooperate with other federal
departments and agencies in Operation Choke Point, targeting lawful businesses as a means of ‘choking off’ payday lending. The
CIDs issued to date have not sought to develop information concerning

Read more: http://paydayloanindustryblog.com/payday-loan-leads-generator-versus-cfpb/#ixzz3gSr8Pdnl

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