ARTICLE · 07 DECEMBER 2012

CFPB And FTC Target Mortgage Advertising

Venable LLP

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The Consumer Financial Protection Bureau ("CFPB") and the Federal Trade Commission ("FTC") have targeted mortgage advertising and marketing in a joint "sweep."

United StatesConsumer Protection

Jonathan Pompan

The Consumer Financial Protection Bureau ("CFPB") and the Federal Trade Commission ("FTC") have targeted mortgage advertising and marketing in a joint "sweep."

Just prior to the Thanksgiving holiday, the CFPB and FTC announced they issued warning letters to mortgage lenders and mortgage brokers advising them to "clean up potentially misleading advertisements, particularly those targeted toward veterans and older Americans."

The CFPB and FTC also announced they have ongoing formal investigations of companies. According to the CFPB, "the actions stem from a joint 'sweep,' a review conducted by the CFPB and the FTC of about 800 randomly selected mortgage-related ads across the country, including ads for mortgage loans, refinancing, and reverse mortgages."

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