For years, TV personality Montel Williams has been the daytime TV face of payday loan lead generation service MoneyMutual, even as it faced investigations from federal and state agencies. Just a few days ago, Montel got into a Twitter spat with a woman who questioned why he was acting as a spokesperson the company, and showed that maybe he needed a refresher course on annual percentage rates. But as part of a deal with regulators in New York state, Montel will no longer market payday loans in the state and MoneyMutual will pay a $2.1 million penalty to settle allegations that it illegally marketed payday loans to New York residents. [More]
By now we know that celebrities (and pseudo-celebrities) often lend their names to products that may or may not have devastating effects on consumers. Of course, hawking a product for a paycheck doesn’t automatically make the spokesperson in question an expert on the product or the consequences of using it. [More]
If you’ve caught any daytime or late-night TV in the last few years, you’ve probably noticed talk show host Montel Williams shilling for a service called MoneyMutual that connects needy borrowers with Payday lenders. Newly released documents show that the company’s lead-generation process is under investigation by the federal Consumer Financial Protection Bureau. [More]
Montel Williams is a paid spokesperson for the pharmaceutical industry, but if you’re a high school intern for Savannah Morning News, you probably shouldn’t ask him any tough questions.