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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 links to their Web sites embedded in rate tables that are custom-generated for each visitor query. A spokeswoman for Bankrate Inc., which owns and operates the site, said the company has been much more aggressive about quality control under CEO Tom Evans, who came on board in 2004, but is confident of winning the lawsuit ...