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CFPB enforcement action draws positive response from CUNA
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Case Law, Consumer Protection, Nonbank Financial
Tuesday, April 26, 2016
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The Consumer Financial Protection Bureau filed two complaints against the co-founders of T3Leads, for allegedly providing substantial assistance to the company as it bought and resold payday and installment loan applications containing sensitive personal data to lenders and data brokers without properly vetting the buyers and sellers – actions alleged to be unfair and abusive under the Dodd-Frank Act’s UDAAP standard. Read on to find out what Credit Union National Association President and CEO Jim Nussle had to say in response.
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