The Consumer Financial Protection Bureau filed complaints in federal court Thursday against two co-founders of a company that resold loan applications containing personal data to lenders and data brokers without reviewing the sources of those leads or the purchasers, CollectionsCreditRisk.com reported yesterday. Dmitry Fomichev and Davit Gasparyan (also known as David Gasparyan) co-founded and operated T3Leads, a lead aggregator that bought and sold payday and installment loan applications without properly vetting buyers and sellers, according to the CFPB. The CFPB filed a separate lawsuit against T3Leads and two other individuals in December 2015. The CFPB alleges that T3Leads bought leads and sold them to payday or installment lenders and others with no regard for the promises lead generators made to consumers, or for how the consumers’ information would be used. Buyers of leads from T3Leads include lenders tied to Indian tribes or based in foreign jurisdictions.
