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Cash advance task shadows exec’s run for Connecticut governor

Cash advance task shadows exec’s run for Connecticut governor

HARTFORD, Conn. — In their run for Connecticut governor, Republican businessman Bob Stefanowski touts blue-chip companies to his stints like General Electrical and UBS Investment Bank. However the part getting all of the attention is their latest work as CEO of an international payday home loan company.

Competitors have piled in critique of Stefanowski’s involvement with an organization providing loan services and products which can be not really appropriate in Connecticut. When you look at the GOP primary, one prospect’s ads dubbed him “Payday Bob.”

The 56-year-old gubernatorial prospect states their experience straightening out the distressed, Pennsylvania-based DFC worldwide Corp. would serve him well repairing hawaii’s stubborn budget deficits.

“It really bothers me personally that i am being assaulted on a business that we cleaned up,” Stefanowski said in a job interview utilizing the Associated Press. “we brought integrity to it.”

Overview of Stefanowski’s tenure leading DFC worldwide Corp. from 2014 to January 2017 programs he enhanced its monetary performance and took actions to fulfill regulators’ needs. It recommends he struggled to create lasting changes to techniques described by experts as preying regarding the bad and folks in monetary stress.

Pay day loans — unsecured, short-term loans that typically enable lenders to get payment from an individual’s bank checking account whether or not or not they will have the income — are void and unenforceable in Connecticut, unless they may be created by particular exempt entities such as for instance banks, credit unions and loan that is small.