Are there any laws governing advertising of financial services?

Yes, Delaware has laws governing the advertising of financial services. The Delaware Division of Banking and Securities regulates and supervises financial services and products. The Delaware Financial Institutions Law, Title 5 of the Delaware Code, requires banks, savings and loan associations, trust companies, and other financial institutions to comply with certain advertising regulations. For example, financial institutions must accurately describe the characteristics, terms, and conditions of services and products advertised. It must provide information on costs, such as any fees and other charges that may be applicable. Any disclaimers or risks associated with the service or product must be clearly stated. Furthermore, if the advertisement contains any percentage or numerical representations, it must include the context of such representations. Financial institutions must also comply with truth-in-advertising laws. Ads must not be deceptive or misleading, nor must they use bait-and-switch tactics, which involves luring customers in with false promises in order to sell them a different (typically more expensive) product. Finally, the advertisement must also comply with labeling requirements, such as listing the name and address of the financial institution and the type of financial institution. Any additional information specified in the rules must also be included.

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Are there any laws governing advertising of financial services?

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