Consumer Financial Digital Marketing In The CFPB's Crosshairs

By Ellen Berge, Leonard Gordon and Jonathan Pompan (August 24, 2022, 2:38 PM EDT) — Through a new interpretive rule, the Consumer Financial Protection Bureau recently declared that digital marketers can be held liable under the Consumer Financial Protection Act if they engage in or substantially assist unfair, deceptive or abusive practices in advertising financial products on behalf of CFPA-covered banks and nonbanks.

This latest in a series of interpretive rules issued by the bureau, when combined with the Federal Trade Commission’s recently announced rulemaking on privacy, confirms a coordinated effort by the two agencies to rein in behavioral advertising.

Both agencies are concerned about whether tracking information, algorithms, digital techniques and other tools used to decide…

Read more

Explore the site

More from the blog

Latest News