What is considered an unfair trade practice under West Virginia law?

Advertising false or misleading statements is considered an unfair trade practice under West Virginia law because it undermines consumer trust and can lead to deceptive outcomes for potential borrowers. The law is designed to protect consumers from being misled or deceived by marketing tactics that do not present accurate information. When an advertisement contains false claims about loan terms, interest rates, or other essential features, it creates an unfair advantage in the market, allowing certain lenders to attract consumers through misinformation rather than through fair competition based on accurate representations of their services. Consequently, maintaining truthful advertising is crucial for transparency and fairness in the mortgage industry, which directly impacts consumer decisions and financial stability.