Cfpb Advisory Opinion On Illegal Steering

On February 7, 2023, the CFPB released an advisory opinion regarding the applicability of Section 8 of RESPA. Through its advisory opinion, the CPFB addressed mortgage comparison websites who appear to be objectively directing consumers to lenders when the websites are actually steering customers to specific lenders on the basis of fees paid for promotion. Director Chopra stated that “we are working to ensure that online platforms are not manipulating their search results in order to coerce kickbacks from lenders.” Read More