Wednesday, October 22, 2014

Your ads could cost you millions in CFPB fines.

The yardstick for measuring what’s okay to say when courting mortgage customers has changed with the Dodd-Frank Act and the ascendancy of the Consumer Financial Protection Bureau. Now the crucial test is how the consumer interprets your advertising and other marketing materials. To get a handle on the customer viewpoint, the CFPB is looking in part to complaints, including those housed in its consumer complaint database, to help it find investigation targets.

In addition, the CFPB has expanded the realm of non-allowed trade practices (formerly unfair or deceptive acts and practices) to include a new category, abusive, which it has not defined, instead keeping the concept vague, broad and flexible. The bureau has released examples of abusive acts and practices for some consumer finance fields, but has included a disclaimer that the examples do not include all the ways financial services companies can run afoul of the rules.

The new perspective and the expanded domain mean that material that was all right in the pre-Dodd-Frank era may now raise red flags. To stay out of the CFPB’s crosshairs, you’ll need to review all of your existing materials and establish new review systems for traditional media, in-person communications and any new resources you’re using, including social media.

Join Inside Mortgage Finance on Wednesday, Nov. 5, for “Marketing Mortgages: UDAAP and the Consumer Perspective” to learn more about the CFPB’s oversight of customer communication. Our experts will also offer guidance on how you should be reviewing your advertising and marketing to stay in the clear.

Hear from these experts:
Steven Kaplan
Financial Services Practice Area Leader
K&L Gates
Andrea Mitchell
Partner
BuckleySandler
Mercedes Tunstall
Privacy and Data Security Group Practice Leader
Ballard Spahr

Among the topics we’ll cover during the 90-minute webinar:

  • Whose mortgage marketing is the CFPB watching?
  • How is consumer interpretation measured?
  • How do the rules differ for in-person communication, online and social media, telemarketing, and print?
  • How should customer complaints factor into your planning?
  • What are your obligations with regard to vendors who provide marketing services for your company?
  • Is there any relief if you didn’t intend to mislead?
  • Will state actions follow CFPB actions?
  • What statements do you have to include in your marketing?

Learn how to make your marketing draw customers
without drawing examiners.

Early bird discount ends tomorrow.


Your Webinar registration includes these added benefits:

  • Webinar attendance for you and your entire team;
  • A webinar manual with a program outline, speaker bios and presentations, and pertinent articles on the subject from Inside Mortgage Finance and our other newsletters;
  • A full transcript, emailed to you when you take our post-conference survey; and
  • The opportunity to connect with any or all of the speakers during the audience Q&A session—a favorite part of these events.

Cancel before 5:00 pm ET 11/3/14 for full refund less $25 fee.

You will receive an email confirmation shortly after completing your registration. You may also contact us at (301) 951-1240.

Two Ways to Register:

1. REGISTER ONLINE

2. REGISTER BY PHONE: Call Erika at 800-570-5744 or 301-951-1240. Our Customer Service representatives can answer any questions and register you in minutes.

For one low rate you and your entire staff (in one room) can participate in this exclusive Inside Mortgage Finance webinar without ever having to leave your office. You'll come away with firsthand, actionable information. NOTE: Call for discounted rates for multiple sites.

What Is a Webinar?
It is a live event in which you listen to presenters either through your phone or through your computer while viewing their presentations online. 

Early bird discount ends tomorrow.


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Tel: 800-570-5744, www.insidemortgagefinance.com

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