Advertising Compliance: Loans – ON-DEMAND WEBINARS

Date Recorded: January 3, 2022

Presenter: Anetria Cohen, VP and Senior Consultant, FORVIS

A two-hour webinar that will review advertising rules for loan products.

Advertisements can provide a great first impression to customers and potential customers. We can inform them of the products and services we provide, any specials we are offering, and our support and involvement in local community activities.

We are worried, though, about ads that may mislead customers – for example, ads that try to “bait-and-switch” a customer by advertising a product or service, while offering a different, and ads that include only the appealing parts of a product or service without having to include the unappealing parts (e.g., costs, limitations).

Because of this, advertisements and marketing for loans are subject to a number of different Federal regulations: primarily, the Truth-in-Lending Act/Regulation Z (open-end and closed-end) and UDAP/UDAAP, but also including FHA logo rules and social media concerns. This webinar will discuss these rules and guidance as they apply to loans.

HERE IS WHAT YOU WILL LEARN:

• Review specific Truth-in-Lending requirements that apply to advertisements.
  • Open-end credit products including HELOCs; and
  • Closed-end credit products including advertising of Adjustable Rate Mortgage loan products.
• Review Unfair, Deceptive or Abusive Acts or Practices (UDAAP).
• Review non-discriminating advertising requirements under the Equal Credit Opportunity Act and Fair Housing Act.
• Review the importance of maintaining an advertising file with proper sign-offs for the review of the examiners.
• Address special issues involving the Internet or electronic advertising, including a review of the Agencies’ social media guidance.
• Review loan advertising checklists.
• Review examples of loan advertising