Director Cordray, who previously served as Franklin County Ohio Treasurer, Ohio State Representative, Ohio State Treasurer and Ohio State Attorney General, spoke about his experiences as a state and local official and the importance of the CFPB partnering with local enforcement organizations to prevent predatory lenders from taking advantage of the American people.
On Tuesday, Everson acknowledged there are serious problems here--for example, unscrupulous preparers taking advantage of lower income folks with predatory loans and bogus earned income tax credit claims.
Lastly, systematic theft is the ultimate predatory practice in that it unlawfully destroys the value of any innovation or creative advantage a competitor may have.