Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 02 MARCH 2015

CFPB "Sweep" Of Misleading Advertising

Venable LLP
Explore more from Venable LLP

On February 12, 2015, the CFPB took action against three mortgage companies for allegedly misleading consumers with advertisements implying U.S. government approval of their products.

United StatesFinance and Banking
Allyson B. Baker
Allyson B. Baker
Peter Frechette
Peter Frechette

On February 12, 2015, the CFPB took action against three mortgage companies for allegedly misleading consumers with advertisements implying U.S. government approval of their products. In addition to the CFPB exercising its authority to prohibit unfair, deceptive or abusive acts or practices, the agency also charged the three institutions with violating the Mortgage Acts and Practices Rule (Regulation N), which prohibits making "any material misrepresentations, expressly or by implication, in any commercial communication, regarding any term of any mortgage credit product, including but not limited to misrepresentations" that "the provider is, or is affiliated with, any governmental entity."

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

23x5 Trading Comes To US Exchanges: What Firms Should Know Before Launch

US national securities exchanges are preparing to launch 23x5 trading by December 6, 2026, marking the most significant expansion of trading hours in decades. This comprehensive analysis examines the regulatory approvals, operational infrastructure changes, investor protection mechanisms, and issuer considerations necessary to support overnight equity trading from Sunday through Thursday evenings.
United StatesFinance and Banking
WilmerHale
WilmerHale
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 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