Deceptive Mortgage Ads Targeted by New CFPB, FTC Initiative

Mortgages

Deceptive Mortgage Ads Targeted by New CFPB, FTC Initiative

Deceptive Mortgage Ads Targeted by New CFPB, FTC Initiative

The Consumer Financial Protection Bureau and the Federal Trade Commission are taking on deceptive mortgage advertising and marketing in the latest enforcement actions from the government agencies. Specifically, the two agencies worked together in a sweep of more than 800 mortgage ads to assess whether the ads violated the Mortgage Acts and Practices — Advertising… Read More

Update: Mortgage fraudster’s website

Mortgages

Update: Mortgage fraudster’s website

Update: Mortgage fraudster’s website

A few minutes of internet research has turned up the official real estate website for Henry Aguilar. A quick Who Is search revealed that dcoreinc.com is registered in Aguilar’s name. Aguilar is current suspected of posing as a real estate broker in order to steal more than $120,000 from unsuspecting clients.

Cross Country Bank is fined $9 million for abusive credit cards

Credit Cards

Cross Country Bank is fined $9 million for abusive credit cards

Cross Country Bank is fined $9 million for abusive credit cards

Cross Country Bank (now know as Applied Card Bank) was ordered by the courts to pay $9 million in penalties and restitutions for taking advantage of borrowers with poor credit. Cross Country Bank regularly marketed $2,500 limit credit cards directly to borrowers with credit problems. But when borrowers opened their accounts, their credit limits were only $400 and most of this limit was taken up with Cross Country Bank fees.

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