This story came out yesterday covering Holly Petraeus’, who heads the Office of Servicemember Affairs for the Consumer Financial Protection Bureau, conference call this week with Senator Tim Johnson (D-SD). On the call Petraeus  discussed the importance of appointing a director to the CFPB, saying agency enforcement personnel “cannot start their work until we have a director in place. It’s like they are circling their airfield waiting for permission to land.”

As she discussed the need for a director, we were a bit flabbergasted by the headline and its ties to the story? Sensationalism, much? Perhaps.

Just a reminder for those who follow the Pundit, CFSA member companies do not market or provide two-week payday advance loans to the military. This policy is in accordance with federal law that imposed a 36 percent rate cap on loans of 91 days or fewer to military personnel, their spouses, and their dependents.