What must mortgage loan advertising in Rhode Island comply with?

In Rhode Island, mortgage loan advertising is governed by specific regulations that ensure protections for consumers. The correct answer emphasizes that such advertising must not be misleading and must disclose all pertinent terms whenever triggering terms are used.

Triggering terms are specific phrases or figures that, when included in an advertisement, require the advertiser to provide additional, clarifying information. This is to prevent consumers from being misled by incomplete or deceptive information, which could lead to misunderstandings about the terms of a loan. By mandating clear and comprehensive disclosures, the law aims to promote transparency and help consumers make informed decisions about mortgage options.

The other options do not accurately reflect the legal requirements. Advertising does not have to appear specifically in local newspapers, it is not obligatory to include rates from all lenders, and there is no requirement for advertising to be broadcast on television. The key regulatory focus is on ensuring that advertisements are truthful and provide necessary disclosures to avoid misleading potential borrowers.