Legal Blog

Compensation and Compliance Matters: CFPB Warns Against LO Comp Accidentally Leading to Elder Abuse

Over the last several months the Consumer Financial Protection Bureau has focused on financial abuse impacting older Americans. In March, the bureau issued a series of voluntary rules to assist institutions with identifying and responding to elder financial abuse. While many of these rules would not directly implicate the loan origination process, there is an inescapable fact lenders should not ignore: the CFPB expects lenders to take affirmative steps to protect borrowers — especially older borrowers — across the board.

 

Click here to read the entire article on National Mortgage News.

ABOUT ARI KAREN

akaren@offitkurman.com  | 240.507.1740

Ari Karen is an experienced litigator and speaker who has focused his practice in representing financial institutions in both government investigations and litigation before state and federal trial and appellate courts nationwide. Mr. Karen’s practice is diverse, representing clients on matters concerning banking regulations, Dodd Frank financial reform laws, contractual disputes, employment and labor statutes, wage-hour class actions, employment discrimination and fair lending matters, whistleblower complaints and non-competition claims, among others.

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