Industry News

Lawsuit alleges online mortgage service engaged in false advertising

Bankrate suit could go to trial this fall
Published on Jul 12, 2006

Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

A Web site that invites consumers to compare mortgage rates offered by dozens of lenders is being sued by a former client, American Interbanc Mortgage LLC, which alleges Bankrate.com did little to prevent advertisers from engaging in bait-and-switch tactics.

The lawsuit, filed in 2002, alleges that hundreds of consumers shopping for a loan on the site complained to Bankrate.com that they weren't able to lock in the rates advertised by lenders, who pay to have clickable l ...

Comments