FTC to Use New Rulemaking Authority to Protect Consumers Against Modification, Foreclosure Scams
March 26, 2009
The Federal Trade Commission will soon begin drafting new rules prohibiting unfair and deceptive mortgage lending acts and practices under new rulemaking authority granted recently by Congress. The FTC expects to use its expanded rulemaking powers to protect consumers against mortgage servicing practices and scams involving loan modifications and foreclosure rescue, and to address...