International Finance Bank pays $70,000 fine for alleged deceptive advertising

07/25/2014 11:40 AM

07/25/2014 2:45 PM

Miami-based International Finance Bank agreed to pay $70,000 in a civil money penalty after regulators said it engaged in deceptive and unfair acts and practices by understating its available interest rates on its deposit secured loans in advertising materials, including its website and brochures.

The bank agreed to make the payment on April 30, without admitting or denying it violated the law, according to documents released by the Federal Deposit Insurance Corp. on Friday.

Join the Discussion

Miami Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Terms of Service