Federal Agencies Train Spotlight on Social Media Ads
The Federal Trade Commission and the Food and Drug Administration are expected to increase enforcement against misleading advertising on social media in 2016. The Consumer Financial Protection Bureau (CFPB) will most likely follow suit, so advertisers will need to be mindful of relevant federal rules. Consumer Protection Investigations Attorney Anthony DiResta says he expects that the CFPB will begin scrutinizing social media advertisements to crack down on deceptive advertising by financial services companies.
‘‘I would not be surprised in 2016 if the government—both the FTC and the CFPB—looks for more rigorous policies concerning their advertising compliance during investigations and supervisory examinations.," said Mr. DiResta.