Dive summary:
- On the 10-year anniversary of the Do Not Call (DNC) registry, the Federal Trade Commission handed out a $7.5 million civil penalty against Mortgage Investors Corporation.
- The penalty, the largest in DNC history, was the first filed under the Mortgage Acts and Practices advertising rule; the rule allows the FTC to prosecute firms with deceptive mortgage ads.
- According to the case, the mortgage company called users that were listed on DNC registry and ignored consumers requests to be removed from their calling list; additionally, the terms of the loan products were misstated during calls.
From the article:
"'Today's settlements leave no doubt that DNC enforcement remains a top priority,' said FTC chairwoman Edith Ramirez.
About 221 million Americans have registered with the Do Not Call Registry at DoNotCall.gov."
