News : Financial Readiness

CFPB Takes Action Against Mortgage Companies For Misrepresenting U.S. Government Affiliation

Thursday, February 12, 2015  
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CFPB Takes Action Against Mortgage Companies For Misrepresenting U.S. Government Affiliation

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. The CFPB is suing reverse mortgage lender All Financial Services, seeking to halt its illegal activities. The CFPB is also ordering Flagship Financial Group and American Preferred Lending to end their false advertising.


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