NEW YORK, May 19, 2021
/PRNewswire/ -- The National Advertising Division (NAD) of BBB
National Programs has referred advertising claims made by Quicken
Loans to the Federal Trade Commission (FTC) for review. Through its
routine monitoring program, NAD challenged "No Registration, No
Login" claims made by Quicken Loans in connection with encouraging
consumers to refinance their mortgage and learn more about its low
refinancing rates. The advertiser did not respond to NAD's request
to provide substantiation for its claims.
NAD determined that the claim "No Registration, No Login"
reasonably communicates the message that consumers' personal data
will not be collected or shared with third parties. However,
despite this claim, NAD noted that consumers must enter a
significant amount of personal information before any information
about mortgage rates is provided.
Further, Quicken Loans' Privacy Policy indicates that it shares
and collects personal data. Quicken Loans identifies the types of
personal data it collects, the sources of such data, as well as how
and why it may share such data with third parties. NAD found that
this use of personal data contradicts the reasonable takeaway from
the "No Registration, No Login" claim that consumers' personal
information will not be shared with third parties.
NAD was disappointed that the advertiser did not participate in
the self-regulatory process. NAD is well-equipped to assess the
truth and accuracy of the challenged claims. Considering the
advertiser's failure to provide a substantive response to NAD's
request for substantiation for its claims or participate in any way
in the self-regulatory process, NAD has referred the matter to the
FTC for possible enforcement action.
All BBB National Programs case decision summaries can be found
in the case decision library. For the full text of NAD, NARB,
and CARU decisions, subscribe to the online archive.
About BBB National Programs: BBB National Programs
is where businesses turn to enhance consumer trust and consumers
are heard. The non-profit organization creates a fairer playing
field for businesses and a better experience for consumers through
the development and delivery of effective third-party
accountability and dispute resolution programs. Embracing its
role as an independent organization since the restructuring of the
Council of Better Business Bureaus in June
2019, BBB National Programs today oversees more than a dozen
leading national industry self-regulation programs, and continues
to evolve its work and grow its impact by providing business
guidance and fostering best practices in arenas such as
advertising, child-directed marketing, and privacy. To learn
more, visit bbbprograms.org.
About the National Advertising
Division: The National Advertising Division (NAD) of BBB
National Programs provides independent self-regulation and dispute
resolution services, guiding the truthfulness of advertising across
the U.S. NAD reviews national advertising in all media and its
decisions set consistent standards for advertising truth and
accuracy, delivering meaningful protection to consumers and
leveling the playing field for business.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/national-advertising-division-refers-quicken-loans-no-registration-no-login-claims-to-federal-trade-commission-for-further-review-301295094.html
SOURCE BBB National Programs