Consumer Financial Protection Bureau Sues Rocket Homes, Alleges Kickback Scheme
The Consumer Financial Protection Bureau sued Rocket Homes, a division of Rocket Companies, Inc. (NYSE:RKT), on Monday in what it said is an action stop the company from providing incentives to real estate brokers and agents to steer homebuyers to Rocket Mortgage, LLC for loans.
The CFPB alleged that Rocket Homes pressured real estate brokers and agents not to share information with clients concerning products which were not offered by Rocket Mortgage, including the availability of down payment assistance programs.
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“Rocket engaged in a kickback scheme that discouraged homebuyers from comparison shopping and getting the best deal,” said CFPB Director Rohit Chopra.
“At a time when homeownership feels out of reach for so many, companies should not illegally block competition in ways that drive up …Full story available on Benzinga.com
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