President Obama often rails from the high-interest loans industry — but that did not stop loan that is payday Montel Williams from being tapped to headline a meeting for the president’s jobs council event next Wednesday in Atlanta.
That’s the form of lender Obama was targeting as he installed Rich Cordray as director regarding the new Consumer Financial Protection Bureau in a controversial recess appointment.
вЂњIf youвЂ™re a mortgage lender or a payday lender or a credit card company, the times of signing people up for products they canвЂ™t afford with confusing forms and deceptive practices are over,вЂќ the president explained in his State for the Union address.
The business as well as its lawyer declined to respond for comment.
Williams wonвЂ™t be telling students at Georgia Tech next Wednesday about how to snag a $1,000 loan overnight. He will be moderating a panel with Intel CEO Paul Otellini and NASA Administrator Charles Bolden to market engineering education.
Intel spokeswoman Lisa Malloy said the ongoing company picked Williams to lead the discussion due to his background as a U.S. Naval Academy-trained engineer.
Williams is вЂњenthusiastic about participating in an working jobs panel that ensures the future of our country,вЂќ said his spokesman Jonathan Franks.
вЂњHe therefore doesn’t have concerns about being associated with the administration when you look at the context for this important event.вЂќ
And pay day loans arenвЂ™t the only real odd conjunction of Williams, Obama and money: The Portland, Oregon TV station KATU reported during 2009 that Williams was hawking collectible Obama coins which were actually 50-cent pieces with stickers in it. Read More