HELOCs for Sale; CashCall Fined; CFPB & FTC Team up for Discipline; Texas Tea’s Impact on Mortgages

By Rob Chrisman

Posted To: Pipeline Press

Friday the 13 th comes three times this year, and this is one of them. I can think of three more companies that won’t be sending chocolate to the CFPB or Federal Trade Commission tomorrow. None of the companies admitted wrongdoing, but were accused by the FTC and fined by the CFPB for falsely implied affiliation with the U.S. government. The CFPB filed a lawsuit against reverse mortgage lender All Financial Services and issued consent orders against Flagship Financial Group and American Preferred Lending. The allegations stem from a joint review by the FTC & CFPB . The agencies surveyed consumer complaints and 800 randomly selected mortgage ads to catch potential wrongdoing. The CFPB said the three companies “imitated U.S. government notices” in mailings to consumers such as an eagle resembling…(read more)

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Via:: HELOCs for Sale; CashCall Fined; CFPB & FTC Team up for Discipline; Texas Tea’s Impact on Mortgages

      

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