HARTFORD, Conn. (AP) — In their run for Connecticut governor, Republican businessman Bob Stefanowski touts blue-chip companies to his stints like General Electrical and UBS Investment Bank. Nevertheless the part getting most of the attention is their newest task as CEO of an international lending company that is payday.
Competitors have actually piled in critique of Stefanowski’s participation with an organization providing loan items which are not really legal in Connecticut. Into the GOP primary, one candidate’s ads dubbed him “Payday Bob.”
The 56-year-old candidate that is gubernatorial their experience straightening out of the distressed, Pennsylvania-based DFC worldwide Corp. would provide him well fixing the state’s stubborn budget deficits.
“It really bothers me personally that I’m being assaulted on an organization that we washed up,” Stefanowski stated in an meeting utilizing the Associated Press. “I brought integrity to it.”
Analysis Stefanowski’s tenure leading DFC Global Corp. from 2014 to January 2017 programs he enhanced its economic performance and took actions to meet up with regulators’ demands. Moreover it indicates he struggled to carry lasting changes to methods described by experts as preying regarding the bad and folks in economic stress.
Pay day loans — unsecured, short-term loans that typically enable loan providers to get payment from a customer’s account that is checking of if they have the funds — are void and unenforceable in Connecticut, unless they’re made by specific exempt entities such as for instance banking institutions, credit unions and tiny loan licensees. Continue reading “Pay day loan work shadows exec’s run for Connecticut governor”