It’s Pay-To-Play For Some Members of Congress Regarding the Payday Rule.

Mike And Tina Hodges Have Been Running Payday Lender Advance Financial Together For About 20 Years.

Mike Hodges Has Been Chairman Of Payday Lender Advance Financial Since 1998, Just Two Years After The Company Was Founded In 1996.

Mike Hodges Has Been Chairman Of The Chairman Of The Board Of Advance Financial Since 1998. [LinkedIn Profile for Mike Hodges, accessed 10/25/19]

Advance Financial Is A Payday Lender. “Tina and Mike Hodges, who together run payday lender Advance Financial.” [Stephen Elliott, “Pence to Nashville again, this time for cash,” Nashville Post, 09/24/19]

Advance Financial Was “Founded In 1996 In Nashville As A Three-Store Chain, And Has Grown To Include More Than 70 Locations Throughout The State.” “Family owned and operated Advance Financial was founded in 1996 in Nashville as a three-store chain, and has grown to include more than 70 locations throughout the state, employing more than 700 Tennesseans.” [“FiSCA Presents Mike and Tina Hodges with Financial Service Provider(s) of the Year Award,” Advance Financial, accessed 10/25/19]

Mike Hodges Runs Advance Financial Along With His Wife Tina Hodges, Who Has Been An Executive For The Company Since 2000.

Advance Financial Chairman Mike Hodges And CEO Tina Hodges Are Married To One Another. “Mike and Tina Hodges, Chairman and CEO respectively, of Advance Financial in Nashville, Tennessee, were recognized with FiSCA’s 2016 Financial Service Provider of the Year Award in October.” [“FiSCA Presents Mike and Tina Hodges with Financial Service Provider(s) of the Year Award,” Advance Financial, accessed 10/25/19]

Rep. Blaine Luetkemeyer (R-MO) Told Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger That She Should “Address Inconsistencies Of The Payments Provision” In The Bureau’s Payday Lending Rule After Taking $20,000 From An Industry Group That Counts Tina Hodges On Its Board Of Directors.

Rep. Blaine Luetkemeyer (R-MO) Said The Consumer Financial Protection Bureau (CFPB) Should “Address Inconsistencies Of The Payments Provision” In Its Payday Lending Rule In An October 2019 Hearing With Director Kathy Kraninger.

Rep. Blaine Luetkemeyer (R-MO) Said The Consumer Financial Protection Bureau (CFPB) “Should Continue Its Re-Examination Of The Small Dollar Rule To Address Inconsistencies Of The Payments Provision” In An October 2019 Hearing With Bureau Director Kathy Kraninger. “While the CFPB has made progress under Director Kraninger, more can always be done. CFPB could also continue to progress to define what constitutes an abusive act or practice under UDAAP, and should continue its re-examination of the Small Dollar Rule to address inconsistencies of the payments provision, just to name a few.” [“House Financial Services Committee hearing on Who Is Standing Up for Consumers? A Semi-Annual Review of  the ..,sked FINAL,” Bloomberg Government, 10/17/19]

  • The Hearing, Held By The House Financial Services Committee On October 16, 2019, Was Titled, “Who Is Standing Up For Consumers? A Semi-Annual Review Of The Consumer Financial Protection.”  [“House Financial Services Committee hearing on Who Is Standing Up for Consumers? A Semi-Annual Review of  the ..,sked FINAL,” Bloomberg Government, 10/17/19]

Rep. Blaine Luetkemeyer Has Taken $20,000 From A Trade Organization That Counts Tina Hodges On Its Board Of Directors.

The Online Lenders Alliance Has Given $10,000 To Rep. Blaine Luetkemeyer So Far In The 2020 Election Cycle. [Contributors 2019 – 2020, Rep. Blaine Luetkemeyer – Missouri District 03, OpenSecrets, accessed 10/30/19]

The Online Lenders Alliance Gave $10,000 To To Rep. Blaine Luetkemeyer In The 2018 Election Cycle. [Contributors 2017 – 2018, Rep. Blaine Luetkemeyer – Missouri District 03, OpenSecrets, accessed 10/30/19]

Tina Hodges Is On The Board Of Directors For The Online Lenders Alliance. [Board of Directors, Online Lenders Alliance, accessed 10/28/19]

The Online Lenders Alliance, Whose CEO Is “A Payday Industry Veteran,” Represents “Digital Payday Lenders.” “The Online Lenders Alliance, a trade group whose members include digital payday lenders, has named Mary Jackson its CEO. Jackson is a payday industry veteran who was senior vice president for communications at Cash America International. She has also done stints on the boards of the Community Financial Services Association, the National Pawnbrokers Association and the alliance, all of which represent short-term consumer lenders.” [Kevin Wack, “Online Lenders Alliance names payday industry veteran CEO,” American Banker, 06/11/18]

Rep. David Kustoff (R-TN) Suggested The Payments Provision Would “Add Additional Compliance Burdens On Lenders” After Taking $19,200 From Mike And Tina Hodges Since 2017.

Rep. David Kustoff (R-TN) Asked Director Kraninger About The Payments Provision, Indicating It Would “Add Additional Compliance Burdens” On Lenders.

Rep. David Kustoff (R-TN) Asked CFPB Director Kathy Kraninger “About Subpart C [The Payments Provision] And The Rule To Add Additional Compliance Burdens On — On Institutions And — And Payment Processors […]” “KUSTOFF: Thank you. I know you’ve had a number of questions today about the small dollar lending rule. I could, if I could ask you specifically about subpart C and the rule to add additional compliance burdens on — on institutions and — and payment processors due to conflicts with existing laws and regulations and payment system rules. Could you address that and — and what the CFPB is looking at in terms of — of trying to address those issues?” [“House Financial Services Committee hearing on Who Is Standing Up for Consumers? A Semi-Annual Review of  the ..,sked FINAL,” Bloomberg Government, 10/17/19]

Rep. Kustoff Has Taken $19,200 From Mike And Tina Hodges Since 2017.

Mike And Tina Hodges Have Given $19,200 To Kustoff For Congress Since 2017:

Contributor Name Recipient Amount Date
HODGES, MICHAEL KUSTOFF FOR CONGRESS 2,800.00 03/31/19
HODGES, MICHAEL KUSTOFF FOR CONGRESS 2,800.00 03/31/19
HODGES, TINA KUSTOFF FOR CONGRESS 2,800.00 03/31/19
HODGES, MICHAEL KUSTOFF FOR CONGRESS 2,700.00 03/27/17
HODGES, MICHAEL KUSTOFF FOR CONGRESS 2,700.00 03/27/17
HODGES, TINA KUSTOFF FOR CONGRESS 2,700.00 03/27/17
HODGES, TINA KUSTOFF FOR CONGRESS 2,700.00 03/27/17

Rep. John Rose (R-TN) Asked Director Kraninger About How The CFPB Evaluated Payment Practices For The Payday Lending Rule After Taking $25,800 From Mike And Tina Hodges Since 2017.

Rep. John Rose (R-TN) Asked Kathy Kraninger About How The CFPB Collected Data “To Evaluate Payment Practices” For The Payday Lending Rule.

Rep. John Rose (R-TN) Asked CFPB Director Kathy Kraninger About “The Bureau’s Research With Respect To Payment Practice” And If “ACH Data The Primary Source Of Data Used To Evaluate Payment Practices In The CFPB’s Small Dollar Rule?”  “ROSE: Thank you Chairwoman Waters and thank you Director Kraninger for joining us here today. I’d like to jump in right away with the CFB — CFPB’s small dollar rule. The CFPB’s final rule published on November 17th, 2017 notes that the bureau’s research with respect to payment practice is focused on online payday and payday installment loans where payments attempts generally occur through the ACH network and thus can be readily tracked at the account and lender level. Director Kraninger was the — was ACH data the primary source of data used to evaluate payment practices in the CFPB’s small dollar rule?” [“House Financial Services Committee hearing on Who Is Standing Up for Consumers? A Semi-Annual Review of  the ..,sked FINAL,” Bloomberg Government, 10/17/19]

  • “ACH Payments Are Electronic Payments That Go Through The Automated Clearing House (ACH) Network.” [“Learn How ACH Payments Work,” The Balance, 10/29/19]

Rep. Rose Has Taken $25,800 From Mike And Tina Hodges Since 2017.

Mike And Tina Hodges Have Given $25,800 To The John Rose Victory Fund And John Rose For Tennessee Since 2017:

Contributor Name Recipient Amount Date
HODGES, MICHAEL L. JOHN ROSE VICTORY FUND 7,500.00 09/09/19
HODGES, TINA JOHN ROSE VICTORY FUND 7,500.00 09/09/19
HODGES, MICHAEL L. JOHN ROSE FOR TENNESSEE 200.00 03/30/18
HODGES, MICHAEL L. JOHN ROSE FOR TENNESSEE 2,700.00 03/30/18
HODGES, TINA K. JOHN ROSE FOR TENNESSEE 2,700.00 03/30/18
HODGES, TINA K. JOHN ROSE FOR TENNESSEE 2,700.00 03/30/18
HODGES, MICHAEL L. JOHN ROSE FOR TENNESSEE 2,500.00 10/24/17

Rep. Frank Lucas Asked CFPB Director Kathy Kraninger If There Were Plans To “Modify” The Payments Provision—After Taking $2,500 From Mike Hodges.

Rep. Frank Lucas (R-OK) Asked Director Kraninger If There Were Plans To “Modify” The Payments Provision.

Rep. Frank Lucas (R-OK) Asked CFPB Director Kathy Kraninger About “The Payments Provision Of The Small Dollar Rule,” And “If There Are Currently Any Plans To Modify This Section Of The Small Dollar Rule?”“LUCAS: Now, Director, many members of this Committee have concerns about the small dollar rule, and during your last visit before this Committee, we discussed the payments provision of the small dollar rule, I’d like to continue that dialogue by asking you if there are currently any plans to modify this section of the small dollar rule?” [“House Financial Services Committee hearing on Who Is Standing Up for Consumers? A Semi-Annual Review of  the ..,sked FINAL,” Bloomberg Government, 10/17/19]

Rep. Lucas Has Taken $2,500 From Mike Hodges.

Michael Hodges Gave $2,500 To Lucas For Congress On January 117, 2018. [Lucas for Congress Schedule A, Federal Election Commission, 01/17/18]

Rep. Andy Barr (R-KY) Asked Director Kraninger If The Payment Provision Would Harm Borrowers After Taking $1,000 From Mike Hodges.

Rep. Andy Barr (R-KY) Asked Director Kraninger If The Payment Provision Would Harm Borrowers.

Rep. Andy Barr (R-KY) Told CFPB Director Kathy Kraninger That “The Small Dollar Payment Provision […] Can Harm The Borrower And Limit Opportunities For Credit Rehabilitation,” Asking If Lenders Would “Proceeding Straight To Collections Following The Second Unsuccessful Payment Attempt?” “BARR: Director, I’d encourage you to expedite that because due process is counting on you. The small dollar payment provision — when a lender places a loan in collections, that can harm the borrower and limit opportunities for credit rehabilitation. Are you concerned that lenders could react to the payments provision — provisions of the rule by proceeding straight to collections following the second unsuccessful payment attempt?” [“House Financial Services Committee hearing on Who Is Standing Up for Consumers? A Semi-Annual Review of  the ..,sked FINAL,” Bloomberg Government, 10/17/19]

Rep. Barr Has Taken $1,000 From Mike Hodges.

Michael Hodges Gave $1,000 To Andy Barr For Congress, Inc. On May 1, 2016. [Andy Barr for Congress, Inc. Schedule A,  Federal Election Commission, 05/01/16]

 

 

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