Those of you that dont know CFPB is the Consumer Financial Protection Bureau
Their motto: "Our vision is a consumer finance marketplace that works for American consumers, responsible providers, and the economy as a whole."
- The CFPB may decide to take legal action against Zillow Group for alleged violations of consumer protection laws.
- Agents not paying their 'fair share' of advertising spend could be at risk of legal liability. Zillow co-marketing program for compliance with the RESPA is in question.
The allegations are Zillow’s advertising revenues violated regulations against kickbacks set in place with CFPB. Earnings release from Zillow earlier this year acknowledged to investors that they have been under investigation since 2015.