SAN FRANCISCO (Legal Newsline) – The U.S. Consumer Financial Protection Bureau is suing a national mortgage lender claiming it falsely advertising how much it can save consumers through its program.

The bureau filed the lawsuit on May 11 in U.S. District Court for the Northern District of California against Nationwide Biweekly Administration. Inc., Loan Payment Administration, LLC and Daniel Lipsky, the founder and president of both companies. The suit claims National Biweekly’s “interest minimizer” program doesn’t save consumers the amount of money it advertises.