Want proof? Take a look at a recently available crackdown into the subprime sector because of the customer Financial Protection Bureau.
The watchdog agency, which conservatives say may be the embodiment of regulatory overreach, slapped Clearwater’s Clarity solutions Inc. And its particular owner, Tim Ranney, with an $8 million fine for illegally accessing the credit files of huge number of consumers nationwide.
That is bad sufficient. Making things even even worse is really what the business did along with those credit files.
In line with the bureau, Clarity utilized them to create product product product sales leads for firms which make “small-dollar loans to customers who possess thin credit files. “