Date: | 07/04/1997 |
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Organization: | Division of Banks |
Docket Number: | 97-174 |
This opinion was issued during the third quarter of 1997.
Date: | 07/04/1997 |
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Organization: | Division of Banks |
Docket Number: | 97-174 |
This opinion was issued during the third quarter of 1997.
It is the position of the Division of Banks that data published by a newspaper as statistical information for the benefit and use of its readers, obtained from a third party source which contracts with lending institutions to have their mortgage rates published, would not constitute advertising and therefore would not trigger Truth-in-Lending disclosures under Mass. Gen. Laws chapter 140D or 209 CMR 32.00 et seq. However, in order to be valuable to a consumer for meaningful comparison purposes, the listings should include the minimum percentage of down payment required for each of the loan products listed.