Advertising Consumer Financial Protection Bureau

News & Analysis as of

The CFPB’s Latest LEP Guidance: A Step in the Right Direction

Serving consumers with limited English proficiency (“LEP Consumers”) is one of the most challenging issues facing financial institutions today. The logistical challenges of ensuring accurate translations, dealing with...more

FTC Holds Workshop on Effective Consumer Disclosures

The Federal Trade Commission (FTC) held a workshop last week on the effectiveness of consumer disclosures. Titled “Putting Disclosures to the Test”, the workshop featured a series of presentations on recent academic,...more

CFPB enters into consent order with auto title lender

The CFPB announced that it has entered into a consent order with TMX Finance, LLC to settle allegations that the company did not provide sufficient information to consumers about the terms of auto title loans, pawns or...more

To (Dis)Close for Comfort–FTC Workshop Seeks Effective Consumer Disclosures

A goal of providing effective disclosures to consumers is to allow consumers to make informed decisions. But what must be done to make disclosures effective? This was the question the Federal Trade Commission (FTC) explored...more

CFPB announces enforcement actions against auto title lenders

The CFPB announced that it has filed administrative enforcement actions against five Arizona auto title lenders for alleged violations of Truth in Lending Act advertising requirements. According to the CFPB, the lenders...more

Beyond “Clear and Conspicuous”: FTC Workshop Highlights Issues Related to Testing of Consumer Disclosures

On advertisements, websites, and legal documents, disclosures are everywhere. But how do consumers notice, understand, and use disclosures in their decision-making? And how can businesses and advertisers effectively design...more

FTC staff paper on lead generation likely to inform CFPB

Almost a year ago, on October 30, 2015, the FTC conducted a workshop on lead generation entitled to “Follow the Lead.” We published a three-part series on the workshop highlighting the key takeaways. On September 15, 2016,...more

CFPB to Participate in FTC Workshop on Consumer Disclosures

On September 15th, the FTC will hold a workshop to examine the testing and evaluation of disclosures that companies make to consumers about advertising claims, privacy practices, and other information. The FTC’s workshop...more

Google To Ban Payday Loan Advertisements

Google announced on May 11 that effective on July 13, 2016 it will ban all payday loan advertisements from its site. Google was responding to concerns raised by consumer advocates who argued that the lending practice...more

CFPB using Google ads to solicit consumer complaints

In an effort to publicize its online complaint system and bring in more complaints, the CFPB is now soliciting complaints through Internet advertising. When browsing the Internet recently, we came across the following...more

Consumer Financial Protection Bureau Takes Action Against Payment Processing Company and Mortgage Servicer

The Consumer Financial Protection Bureau (CFBP) recently took action against a payment processing company, Paymap Inc. (Paymap), and mortgage servicing company, LoanCare, LLC (LoanCare), for deceptive conduct in connection...more

Advertising Law - June 2015 #4

In Case You Missed It: FCC Adopts Significant Changes to TCPA Rules - Last week, in TCPA Connect, our newsletter devoted to cases and developments surrounding the Telephone Consumer Protection Act, we reported on the...more

CFPB: Reverse Mortgages Subject to Scrutiny

In a likely preview of an area subject to future regulation and enforcement, on June 4, 2015, the Consumer Financial Protection Bureau (CFPB) released results of a focus group study on reverse mortgage advertisements and also...more

No Reversing Course on Reverse Mortgages

On June 4, the CFPB released a study on reverse mortgage advertisements. The Bureau seems particularly focused on this product because it is popular among older Americans, whom it characterizes as more “vulnerable.” Not...more

CFPB issues reverse mortgage focus group report and consumer advisory

The CFPB has issued a report that discusses the results of a focus group study it conducted on reverse mortgage advertisements and a consumer advisory about such advertisements. The report is entitled “A close look at reverse...more

CFPB Targets Another Mortgage Lender for Deceptive Advertising

The CFPB has announced the settlement of an enforcement action against a California-based mortgage lender for alleged deceptive advertising practices, including the use of advertisements that the CFPB claimed falsely led...more

CFPB Continues Focus on Mortgage Lender Advertising

Last week, the CFPB announced an enforcement action against RMK Financial Corporation d/b/a Majestic Home Loans (RMK) related to deceptive mortgage advertising practices....more

Consumer Protection and Your Business

You’ve been hearing for a while now that the regulatory environment has been changing, and you follow the Consumer Financial Protection Bureau (“CFPB”) alerts to see if this new regulator will be looking at your type of...more

CFPB Keeps its Sights on Military Mortgage Ads

The CFPB has announced another enforcement action targeting alleged deceptive mortgage advertising to veterans. The Bureau claims that the defendant lender targeted veterans with ads that falsely implied an affiliation...more

CFPB targets another mortgage lender for deceptive advertising

The CFPB has announced the settlement of an enforcement action against a California-based mortgage lender for alleged deceptive advertising practices, including the use of advertisements that the CFPB claimed falsely led...more

Bad Day for NewDay: CFPB Section 8 Enforcement Continues

On February 10, 2015, the Consumer Financial Protection Bureau (“CFPB”) added another company to its litany of alleged Real Estate Settlement Procedures Act (“RESPA”) Section 8 offenders (Michigan Title, PHH Corporation, New...more

CFPB Issues $2 Million Fine Against Mortgage Lender

Last week, the Consumer Financial Protection Bureau (CFPB) announced that mortgage lender NewDay Financial LLC, which specializes in Veterans Administration-backed loans available to military personnel and veterans, had...more

CFPB takes action on misleading advertisements

Late last week, on February 12, the CFPB announced actions against three mortgage companies for alleged violations of Regulation N, the Mortgage Acts and Practices Advertising Rule. Among other restrictions, Regulation N bars...more

FTC Takes First Action Against Car Title Lenders

Why it matters - In the agency’s first action against a title lender, the Federal Trade Commission (FTC) recently reached a deal with a pair of car title lenders accused of deceptive advertising. The Commission alleged...more

CFPB to Section 8 of RESPA: Will You Be My Valentine?

The love affair continues between the Consumer Financial Protection Bureau (“CFPB”) and enforcement under Section 8 of the Real Estate Settlement Procedures Act (“RESPA”). On February 10, 2015, the CFPB announced a consent...more

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