Agency Information Collection Activities; Proposed Collection; Comment Request; Extension
The Federal Trade Commission (FTC or Commission) requests that the Office of Management and Budget (OMB) extend for three years the current Paperwork Reduction Act (PRA) clearance for information collection requirements contained in the FTC's portion of the information collection requirements contained in the Consumer Financial Protection Bureau's Regulation N (the Mortgage Acts and Practices-- Advertising Rule). The FTC generally shares enforcement of Regulation N with the Consumer Financial Protection Bureau (CFPB). The current clearance expires on February 28, 2026.
What this rule actually says
The FTC is asking the government to keep an existing paperwork requirement in place for three more years. This requirement applies to companies that advertise mortgage products—they need to collect and report certain information about their advertising practices to regulators. This is *not* a new rule; it's just an extension of a rule that's been around. Unless a company is actively advertising mortgages, this announcement doesn't change anything.
Who it applies to
- If you're building an AI mortgage lender, broker, or advertiser: This applies to you. You'll need to track and report data about how you advertise mortgage products.
- If you're building a medical scribe, hiring assistant, support chatbot, or other non-financial AI: This does not apply to you.
- Geography: United States only (FTC jurisdiction).
- Data scope in: Information about mortgage-related advertising campaigns, audience targeting, and performance metrics.
- Data scope out: General customer data, user conversations, medical records, hiring decisions—anything outside of mortgage advertising disclosures.
What founders need to do
- Check if you touch mortgages (1 hour): If your AI product advertises, facilitates, or helps lenders market mortgage products, you're in scope. If not, move on.
- Review the existing Regulation N requirements (2-3 days if applicable): The FTC's website has guidance on what information lenders must collect about their advertising. Familiarize yourself with these requirements now, not later.
- Document your advertising practices (ongoing): If applicable, set up a system to track which claims you make in ads, how you target users, and performance data. This is auditable.
- Plan for reporting (ongoing): Budget time quarterly or annually to compile required reports for the FTC. Most companies use compliance software or hire someone part-time for this.
- Monitor for updates (5 minutes, set a calendar reminder): The extension expires February 28, 2029. The FTC may modify requirements before then, so check back in late 2028.
Bottom line
Ignore this unless you're advertising mortgages—and if you are, you're already following these rules; this just keeps them in place longer.