Want proof? Look absolutely no further than a recently available crackdown into the subprime sector by the Consumer Financial Protection Bureau.
The watchdog agency, which conservatives say may be the embodiment of regulatory overreach, slapped Clearwater’s Clarity solutions Inc. And its own owner, Tim Ranney, by having an $8 million fine for illegally accessing the credit files of tens of thousands of customers nationwide.
That is bad sufficient. Making things even worse is really what the business did along with those credit files. Continue reading