Pay day loan pitchman Montel Williams to complete Obama jobs event

Pay day loan pitchman Montel Williams to complete Obama jobs event

President Obama often rails from the high-interest loans industry — but that didn’t stop pay day loan pitchman Montel Williams from being tapped to headline an event when it comes to president’s jobs council event next Wednesday in Atlanta.

That’s the sorts of lender Obama was targeting when he installed Rich Cordray as director for the new Consumer Financial Protection Bureau in a recess appointment that is controversial.

“If you’re a mortgage lender or a payday lender or a credit card issuer, the times of signing people up for products they can’t afford with confusing forms and deceptive practices are over,” the president explained in his State regarding the Union address.

The company and its own lawyer declined to respond for comment.

Williams won’t be telling students at Georgia Tech next Wednesday on how to snag a $1,000 loan overnight. He shall be moderating a panel with Intel CEO Paul Otellini and NASA Administrator Charles Bolden to promote engineering education.

Intel spokeswoman Lisa Malloy said the company picked Williams to guide the discussion due to his background as a U.S. Naval Academy-trained engineer.

Williams is “enthusiastic about participating in an working jobs panel that ensures the future of our country,” said his spokesman Jonathan Franks.

“He therefore has no concerns about being from the administration in the context of this important event.”

And payday loans aren’t the only real odd conjunction of Williams, Obama and money: The Portland, Oregon TV station KATU reported during 2009 that Williams was hawking collectible Obama coins that were actually 50-cent pieces with stickers in it. Continue reading “Pay day loan pitchman Montel Williams to complete Obama jobs event”