The Consumer Financial Protection Bureau (CFPB) has issued a circular cautioning companies against employing deceptive “fine-print tactics” to deceive consumers in violation of the Consumer Financial Protection Act. The warning underscores the agency’s commitment to enforcing consumer protection laws and holding companies accountable for unfair and deceptive practices.
Key points from the circular include:
– The CFPB’s stance on prohibiting companies from using hidden or convoluted language to mislead consumers
– The potential legal consequences for companies found to be in violation of consumer protection laws
– The importance of transparency and clarity in all dealings with consumers to ensure fair and honest practices in the mortgage industry.
You can read this full article at: https://www.housingwire.com/articles/cfpb-issues-warning-on-fine-print-tactics-used-to-trick-consumers/(subscription required)
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