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Category: Speech |

Prepared Remarks of CFPB Director Richard Cordray on the Reverse Mortgage Advertising Press Call

Thank you all for joining us today for the release of our study on reverse mortgage advertisements. Right now, we are experiencing the greying of America, with 45 million people in this country who are age 65 or older and 10,000 more who are turning 65 each day. They are our grandparents, our parents, our […]

Category: Press release |

CFPB Study Finds Reverse Mortgage Advertisements Can Create False Impressions

CFPB Issues Advisory Warning Consumers Not To Be Deceived WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) released results of a focus group study on reverse mortgage advertisements that found many participants were left with misimpressions about the product. After viewing the ads, consumers were confused about reverse mortgages being loans, and they […]