Founder Of Consolidated Credit Counseling Services Reportedly Tied To Payday Lenders

Not that this is a conflict of interest at all, but it’s the worst conflict of interest I think we’ve ever seen. As if payday loan clients weren’t already screwed, this guy will charge you to throw you into the hole and charge you to dig you back out again.

Consumerist

consolidatedcreditIf you’re in dire financial straits because you thought you could take out a 275% APR payday loan only to find yourself unable to repay, do you want credit counseling advice from someone with a financial interest in the success of payday lenders? Probably not, but the founder of Consolidated Credit Counseling Services, Inc. says that his investments in the payday loan business had no bearing on his work.

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Categories: Hackers

2 replies

  1. Silly analogy.

    Simply because he is an industry member doesn’t mean he cant give advice. All Judges were once lawyers,
    Most industry groups, influential govt agencies in DC are run or heavily influence congress by industry members.
    Wake up and stop being naïve. Would it be hard to learn from a crook how to avoid being robbed?

    Like

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