Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 15 APRIL 2015

CFPB Keeps Its Sights On Military Mortgage Ads

Morrison Foerster
Morrison Foerster
Contributor
Morrison Foerster

Morrison Foerster

With approximately 1,000 lawyers in 19 offices, Morrison & Foerster is a preeminent global law firm...

View firm profile
Explore more from Morrison Foerster

The CFPB has announced another enforcement action targeting alleged deceptive mortgage advertising to veterans.

United StatesFinance and Banking
Angela Kleine
Angela Kleine
Author LinkedIn connections

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 between the mortgage lender and the Department of Veterans Affairs or the Federal Housing Administration.  This allegedly violated the 2011 Mortgage Acts and Practices Advertising Rule.  The Bureau added TILA and Reg Z claims for failing to disclose interest rates and monthly payment amounts in the ads.  The parties simultaneously filed a consent order settling the matter for $250,000.  The Bureau capped off its announcements with a detailed blog post by Holly Petreus warning consumers, "The VA doesn't send you mortgage ads."

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

SEC Advances “Responsible Retailization” Through A Potential Accredited Investor Exam And Potential Regulated Fund Reforms

On September 30, 2026, the Securities and Exchange Commission (SEC) issued two rule proposals and five notices aimed at expanding investors’ access to private markets. The package would add ways to qualify as an accredited investor, including passing a new exam administered by the Financial Industry Regulatory Authority (FINRA), broaden performance-based compensation and modernize regulated funds, including interval funds and business development companies (BDCs).
United StatesFinance and Banking
Proskauer Rose LLP
Proskauer Rose LLP
Article

OCC Issues Examiner Framework For Banks’ Use Of Artificial Intelligence

The Office of the Comptroller of the Currency has released a new framework for evaluating banks' deployment of artificial intelligence and agentic AI systems in their business operations. This guidance establishes how examiners will assess AI through existing risk management disciplines rather than creating separate regulatory requirements, with review intensity scaled to each use case's potential consequences and level of human oversight.
United StatesFinance and Banking
Sheppard
Sheppard
Article

SEC Proposes Rule Amendments To Expand Retail Access To Private Markets

The SEC has proposed sweeping amendments to expand retail investor access to private market strategies, including changes to performance-based compensation rules for registered investment advisers and modernization of the interval fund framework. The proposals also explore new credential-based pathways for individuals to qualify as accredited investors, potentially opening private offerings to a broader pool of eligible participants.
United StatesFinance and Banking
Duane Morris LLP
Duane Morris LLP
Article

SEC Approves FINRA’s New “Outside Activities” Rule

The Securities and Exchange Commission has approved FINRA Rule 3290, which will replace existing rules governing outside business activities and private securities transactions for registered persons. This new rule narrows the scope to focus on investment-related activities while maintaining similar supervisory obligations for member firms. Understanding the key changes and implementation requirements will be critical for broker-dealers as they update their compliance policies and procedures.
United StatesFinance and Banking
WilmerHale
WilmerHale