Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
CUNA releases FTC mortgage ad rule analysis
WASHINGTON (8/1/11)--The Credit Union National Association has released a final rule analysis of the Federal Trade Commission’s (FTC) final rule addressing unfair or deceptive acts and practices that may occur with regard to mortgage advertising. The FTC rule applies to state-chartered credit unions, and specifically targets mortgage lenders, brokers, and servicers; real estate agents and brokers; advertising agencies; home builders; lead generators; rate aggregators; and other entities under the FTC's jurisdiction. It does not impact federal credit unions, banks and thrifts. The final rule bans "all material misrepresentations in advertising about consumer mortgages," including misrepresentations in commercial communications and advertisements regarding any term of any mortgage credit product and also imposes new recordkeeping requirements. The FTC issued its proposed rule to ban deceptive mortgage advertising practices in September. The final rule becomes effective Aug. 19. For the final rule analysis, use the resource link.


RSS





print
News Now LiveWire
Registration lottery for #CreditUnion #CherryBlossom Ten Mile Run opens Monday, Dec. 1 http://t.co/AGkKPof5Fy. Race is April 12
1 Day ago
The turkey hasn't even been served and #creditunions are already making plans for #GivingTuesday
1 Day ago
.@bankofamerica's $16.65 billion 'toxic mortgage' settlement finalized http://t.co/BIq1QyImXG
1 Day ago
RT @CUNA: #NussleReport: ICYMI: Revised RBC proposal in January w/a 90-day comment period #Fix RBC http://t.co/T4JcvWBDse
1 Day ago
.@TheNCUA release on Nov. prohibition orders out already. Here: http://t.co/YkA1QIYbYa
1 Day ago