CFPB Issues Advisory Opinion On Comparison-Shopping Marketing

We all know that consumers use the Internet to conduct comparison shopping for a variety of products and services. Consumers want to get a combination of the best price and service for their money. This is especially true in the mortgage lending industry, where most people will be saddled with a home loan debt for decades. The best interest rate and financial package is a critical component to the purchase of a home or property. Comparison-shopping marketing is also a lucrative business for advertising companies. For those in the space, it is important to adhere to applicable comparison shopping regulations.

How Does the Advisory Opinion Impact Comparison Shopping Marketing?

The Consumer Financial Protection Bureau ("CFPB" or "Agency") is a U.S. government agency charged with ensuring that consumers are treated fairly by banks, lenders, and other financial institutions. The Agency recently issued guidance, in the form of an advisory opinion, to protect consumers