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#2163240 - 02/06/18 03:09 PM Subjec to credit approval
Monster Offline
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Joined: Sep 2015
Posts: 479
I've seen several advertising checklists that say something along the lines of "if a credit offer is subject to credit approval, the ad must contain a statement that the offer is subject to credit approval". I haven't found this listed in the advertising sections of 1026, and am trying to figure out whether or not this is just another myth (same checklists modified over the years) or if it is actually needed. Has anyone had this as a finding or recommendation or know of its origin?

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Lending Compliance
#2163249 - 02/06/18 03:18 PM Re: Subjec to credit approval Monster
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
I'm not aware of any federal law that requires this statement or triggers from this statement. It could be a state law issue or it could be a myth. I could also see it as a "UDAP preventer", but it's a stretch.
_________________________
David Dickinson
http://www.bankerscompliance.com

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#2163251 - 02/06/18 03:27 PM Re: Subjec to credit approval Monster
Monster Offline
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Joined: Sep 2015
Posts: 479
Thank you David! No need to add more to the mouseprint, marketing already has it hard enough.

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