FTC Charges Fintech Lender: Deceptive Use of “no hidden fees”
Fintech innovators are known for pushing boundaries. Their ability to think out-of-the-box is considered a major success factor. However, when it comes to regulatory rules there’s a point where an adman’s creative license can turn into a compliance infraction. LendingClub learned this lesson the hard way when the FTC filed a complaint against them for deceptive advertising claims.