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$250k CFPB Penalty For Blatantly False Advertising

Friday, April 10, 2015

This story can be adequately summed up with the internet meme: 'facepalm.'  Yet another ethically challenged lender is going to pay for implying a government agency sponsors or endorses its products.  If there's a gray area here, it's hard to see what it would be.

This time it is RMK Financial Corporation, a California-based mortgage lender which decided it was a good idea to market its products to tens of thousands of military personnel and veterans using Department of Veterans Affairs and FHA logos. Not surprisingly, they were caught.

 

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