Thread Options
#829564 - 10/05/07 02:03 PM Radio Add for H.E. Loan
mojoe472 Offline
New Poster
Joined: Feb 2003
Posts: 14
When a rate is included in the script of a Radio Add for a Closed-End Home Equity Loan, is it required to state "interest rate" after each mention of the rate (e.g. Here's an add ... It says 6.99%)? Note: 6.99% is mentioned twice in the Add.

Also, in the disclosure part of the Add, Does the mention of "7.09% APR for 240 months" require any additional disclosures?

Included is Member FDIC, Equal Housing Lender. Complete details available at abc bank.

Return to Top
Marketing
#829588 - 10/05/07 02:16 PM Re: Radio Add for H.E. Loan mojoe472
Richard Insley Offline
10K Club
Richard Insley
Joined: Oct 2000
Posts: 10,056
Toano, VA
Yes, yes, and there's much more you will need to know. The Federal Trade Commission provides the best resource for credit advertising compliance here: http://www.ftc.gov/bcp/conline/pubs/buspubs/creditad.shtm I realize that FTC does not regulate banks, but the guidance is universal--Reg Z applies the same to all types of creditors.
_________________________
...gone fishing.

Return to Top

Moderator:  Andy_Z, MoneyMaker