Legal Blog

Offit Kurman Financial Compliance Attorney Interviewed by The Baltimore Sun

Offit Kurman financial compliance attorney Ari Karen was interviewed by The Baltimore Sun for the article “Five questions with…Ari Karen.” The article discusses the purpose of C3 Compliance Consultants, an affiliate company of Offit Kurman. Mr. Karen is both founder and director of the new venture.

C3 Compliance Consultants was created to assist lenders across the United States, specifically with the new Consumer Financial Protection Bureau (CFPB) regulations.

“The basis for this venture was the recognition that the CFPB’s new examination guidelines significantly raised the bar for non-depository and small-depository institutions,” explained Karen. “Compliance now requires a more formalized, ongoing and proactive approach to compliance that necessitates affirmative management of a lender’s compliance in a manner that many lenders were not prepared for in terms of current staffing.”

Instead of developing a compliance department, which would be extremely expensive and time consuming, it is far easier and more-cost effective to hire an outside consultant, like C3 Compliance Consultants. Unlike other consultants, however, C3 offers its services on a flat-fee basis.

“The CFPB expressly stated that a company could utilize outsourced or external compliance staff,” said Karen. “The most important component is having the skills needed. Industry knowledge, awareness of the regulations and legal standards, understanding how to institute regulatory processes and procedures, recognizing the challenges in implementing new policies and procedures are the key skills.”

“C3 has these skills.”

C3’s services are in high demand by companies from Los Angeles to Boston, said Karen.

Financial Compliance AttorneyIf you have questions about C3 Compliance Consultants or Consumer Financial Protection Bureau (CFPB) Compliance, please contact Mr. Karen at Mr. Karen is an experienced litigator, whose practice focus in compliance in the mortgage banking industry.  Mr Karen provides counsel counsel and epresents  businesses and financial institutions in both government investigations and litigation before state and federal trial and appellate courts nationwide.  A resource to industry media, Mr Karen is a a regular contributor to National Mortgage News,  in which his blog, “Compensation and Compliance Matters,” appears weekly.  An in- demand speaker  to lenders audiences Mr. Karen speaks throughout the country.  Some of the topics on which he currently presents are issues pertaining to Non-QM lending, Advertising and markeing, LO/Manger compensation strategies, non competition, fair lending and responding to Audits/Investigations.

Offit Kurman Attorneys at Law: Financial Institutions Compliance Practice Group

At Offit Kurman Attorneys At Law, the attorneys in our Financial Institutions Compliance Practice Group offer legal representation and counseling for commercial and corporate transactions, regulatory compliance, government enforcement, public policy and governmental affairs and litigation and arbitration. We continuously monitor legal developments, publish articles and participate in industry and bar association groups on consumer finance issues. In addition, we are active members of various national and local organizations involved in the consumer financial services industry.

To learn more about Offit Kurman’s Financial Institutions Compliance Practice Group and the services offered to businesses and institutions, , please fill out our contact form.. You can also connect with Offit Kurman via FacebookTwitterGoogle+YouTube, and LinkedIn.