Potential Advertising Pitfalls for Consumer Financial Product and Service Providers

Financial service and product providers are no strangers to regulatory oversight and compliance requirements for the financial services and products they offer. Depending on the industry, financial service and product providers must navigate a wide variety of statutes, regulations, and regulators when offering products to consumers. This includes complying with both federal and state law that may be applicable to their products, as well as being overseen by a host of federal and state regulators. However, beyond the products themselves, financial service and product providers must also be aware of the laws that govern advertising for these products and services and the potential risks of noncompliance, including for entities acting on behalf of or providing substantial assistance to a financial service and product provider. Over the past year, federal regulators like the CFPB and FDIC, and even the FCC, have released guidance to financial service and product providers concerning their advertising practices, including the compensation received for their advertising, and in some cases acted against noncompliant entities.
Join Venable attorneys Shahin Rothermel, Jonathan Pompan, and David McGee on April 25 at 2 p.m. as they discuss some of the potential advertising pitfalls consumer financial service and product providers may face when advertising and marketing their products and how to avoid them.
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