CFPB fines mortgage lender $250K for claiming government affiliation in ads

Bureau Orders RMK Financial to Pay $250,000 for Deceiving Borrowers with Claims of government affiliation washington, D.C. – Today the Consumer Financial Protection Bureau (CFPB) took action against RMK Financial Corporation for deceptive mortgage advertising practices, including ads that led consumers to believe that the company was affiliated with the U.S. government.

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CFPB Sues Mortgage Lender for False Reverse Mortgage Ads; Orders Others to End Deceptive Advertising. WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) is taking action against three mortgage companies for misleading consumers with advertisements implying U.S. government approval of their products.

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CFPB Sues Mortgage Lender for False Reverse Mortgage Ads; Orders Others to End Deceptive Advertising WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) is taking action against three mortgage companies for misleading consumers with advertisements implying U.S. government approval of their products.

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$250k CFPB Penalty For Blatantly False Advertising.. Home Loans, for deceptive mortgage advertising including using ads that led consumers to believe it was affiliated with the U.S. government.

CFPB said RMK’s practices violated the Truth in Lending Act, the Mortgage Acts and Practices Advertising Rule and other federal consumer laws. Under CFPB’s consent order, RMK will not be allowed to falsely claim a government affiliation in future advertisements and will pay a fine of $250,000.

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