Aug. 10, 2022, 6:09 PM
Digital marketing companies like Google that help financial companies design and place online ad campaigns are subject to federal consumer finance laws, the CFPB said.
The Consumer Financial Protection Bureau said in a Wednesday interpretive rule that digital marketing companies aren’t entitled to an exemption from federal consumer finance laws that traditional marketing firms can claim. Digital marketers are much more heavily involved than their traditional counterparts in targeting advertisements at specific demographic groups and where the ads are placed, the bureau said.
“When Big Tech firms use sophisticated behavioral targeting techniques to market financial products, they must adhere to …