Davit Gasparyan, a/k/a David Gasparyan
The Consumer Financial Protection Bureau (CFPB) took action against Davit Gasparyan, a/k/a David Gasparyan, co-founder of a company that resold loan applications containing sensitive personal data to lenders and data brokers without assessing the sources of those leads or the purchasers they sold to. In a complaint filed in federal court on April 21, 2016, the CFPB alleged that Gasparyan co-founded and operated T3Leads, a lead aggregator that bought and sold payday and installment loan applications without properly vetting buyers and sellers. The CFPB filed separate lawsuits against co-founder Dmitry Fomichev on April 21, 2016, and T3Leads and two other individuals in December 2015.
Under the Dodd-Frank Act, the CFPB can take action against institutions or individuals engaged in unfair, deceptive, or abusive acts or practices or that otherwise violate federal consumer financial laws. An order entered by the court to resolve the claims against Gasparyan imposes injunctive relief and a $250,000 penalty.