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ARTICLE · 12 MARCH 2024

CFPB Issues Updated Guidance Related To Digital Marketing And Lead Generation

In case you missed it – the CFPB just issued updated guidance related to digital marketing and lead generation. The Bureau has now targeted comparison shopping websites by warning...

United StatesConsumer Protection

In case you missed it – the CFPB just issued updated guidance related to digital marketing and lead generation.1 The Bureau has now targeted comparison shopping websites by warning that the operators of these websites can be liable for abusive conduct when they steer consumers to use one provider over the other.

Banks and independent lenders routinely depend on upon paid websites to drive consumer traffic so they can acquire new loan applicants. Millions of consumers visit comparison sites each month, and they are accustomed to being presented with lists of lenders and "today's rates." The sites feature ads for mortgages, car loans, student loans, and other services. Financial institutions essentially pay for display ads that feature a live feed of market rates and a link to take the consumer to an application.

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