CFPB, FTC Must Coordinate Mortgage Ad Push, Attys Say

Law360, New York (November 19, 2012, 7:41 PM EST) -- The Consumer Financial Protection Bureau and the Federal Trade Commission on Monday launched a broad push against misleading advertising by mortgage lenders, but with the two agencies targeting different market sectors, attorneys fear the effort could lead to chaos.

The two agencies had been cooperating on a joint sweep of mortgage lenders and brokers to measure compliance with the 2011 Mortgage Acts and Practices Advertising Rule, which bars companies from making misleading claims in their advertising concerning government affiliation, interest rates, fees, costs, payments associated with...
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