Article: CAVEAT ISSUED OVER HOME EQUITY LOAN ADS

WASHINGTON - A survey of home equity loan advertisements by a consumer group showed this week that most ads did not disclose important information about fees, interest rates and repayment terms.

Consumers Union, the nonprofit publisher of Consumer Reports, released the survey Tuesday of ads by 20 financial institutions as Congress considers legislation that would require lenders to disclose terms of home equity lines of credit.

The American Bankers Association, the chief trade group for commercial banks, has said it would support some disclosure requirements but urged Congress to give voluntary industry efforts a chance to work.

However, Consumers Union said:

- 80 percent of ...

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