Is This New Wells Fargo Lawsuit Justified?
F&B: This comment doesn’t have anything to do with your Wells comments, but did you notice the LendingTree ad at 3:28 minutes into your broadcast in which they are touting a 15 year fixed rate loan at 3.18% rate & APR? I’ve noticed that this quote hasn’t changed at all for over a month, despite the run up in rates.
How does LT get away with this? I know that they function mainly as a Lead Generator, but they have a NMLS number and disclose that they are a loan originator. Why isn’t the CPNB after this textbook bait & switch ad which pops up all over the internet? I’m sure the LT’s subscribing ‘lenders competing for your business’ aren’t complaining from the misdirected business–except for having come up with an excuse for prospective applicants why the advertised rate isn’t available to anyone!
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