FTC Files Charges Against LendEDU

LendEDU is a website that claimed to be a place for users to offer objective reviews of lenders; according to the Federal Trade Commission the website was selling their rankings to the highest bidder along with producing fake reviews for their own website; the FTC filed charges stating that they, “misled consumers to believe their website provided objective product information, when in fact they offered higher rankings and ratings to companies that paid for placement.” two co-founders along with the chief technology officer and their vice president of product either requested additional compensation from companies for better rankings or were aware that these requests were made; in one example, a student refinance company was asked to pay $9.50 per click in order to regain the number one ranking. Housing Wire

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