CFPB: Comparison-shopping websites should help consumers, not enrich owners
Agency warns websites they might be violating federal law
Ever wonder why your credit union isn’t showing up higher on websites that compare financial services?
Maybe you’re not paying them enough.
The Consumer Financial Protection Bureau announced Thursday that the agency intends to police comparison shopping websites in an effort to make sure they are benefiting the consumer, not just themselves.
“Operators of digital comparison-shopping tools can violate the prohibition on abusive acts or practices if they distort the shopping experience by steering consumers to certain products or services based on remuneration to the operator,” the agency said, in guidance released Thursday.
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