KANSAS CITY, Mo., Aug. 13, 2015 /PRNewswire/ -- Mark Curry, the founder of Reform Online Lending, today applauded the Federal Trade Commission for taking action against two brokerage firms that allegedly sold consumer data illegally to a third party that used the information to steal millions.
"Protecting consumer data should be paramount for everyone in the financial services industry. Online lenders and their service providers must take every step to protect consumer data," said Mark Curry, founder of ReformOnlineLending.org.
"When a customer provides their information to a lender, that lender has a special responsibility to protect it. American consumers should not have to worry about their private financial data being sold to thieves. With this action, the FTC is making clear that if you illegally sell consumer data, you will be caught.
"The challenge for regulators and law enforcement in the online lending space is to separate the good actors from the bad ones. Fortunately, the vast majority of online lenders have strict privacy controls in place to protect consumer data and adhere to best practices, but the bad actors must be exposed and punished."
ReformOnlineLending.org is a program of entrepreneur and industry leader Mark Curry to identify and bring to justice scammers who take advantage of consumers of the online financial services industry. The program is designed to educate American consumers on the scams that are perpetrated in the online lending industry, and to work with government authorities to prosecute scammers who seek to take advantage of the industry's millions of consumers.
Contact: Reform Online Lendinginfo@reformonlinelending.org