CFPB vs Zillow in question kickbacks

By
Managing Real Estate Broker with ERA American Real Estate
http://actvra.in/56jB

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.

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Rainmaker
1,248,422
Mike Cooper
Cornerstone Business Group Inc - Winchester, VA
Your Winchester, VA Real Estate Sales Pro

Well, Brandon, this will be interesting to see how it unfolds. Zillow seems to have a big target on its back, and much of that is their fault.

Aug 05, 2017 05:07 PM #1
Rainmaker
3,188,531
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I see even more stuff coming up with a in the near futufe

Aug 05, 2017 05:20 PM #2
Rainmaker
643,883
Brandon Jordan
ERA American Real Estate - Crestview, FL

Mike Cooper thank you for checking out the post and comment. It will be interesting.

Aug 06, 2017 08:49 AM #3
Rainmaker
643,883
Brandon Jordan
ERA American Real Estate - Crestview, FL

William Feela thank you for the comment I think your right.

Aug 06, 2017 08:50 AM #4
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Brandon Jordan

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