Legal Blog

Compensation and Compliance Matters: It’s What You Don’t Hear About the CFPB that Can Hurt You

In a statement released by the Consumer Financial Protection Bureau last week, the agency announced that it had issued over $70 million in fines to non-bank entities, including mortgage companies, all of which have been through private settlement agreements. While the agency did not specify which particular mortgage lending practices had precipitated the fines, the announcement strikes home the point that the CFPB’s reach and influence goes beyond the larger multi-million-dollar news-worthy resolutions that get the most press. Further, this does not include the millions of dollars in fines issued by state regulators following CFPB standards and protocols. Click here to read the entire article If you have any questions about please contact Ari Karen at: Bank Manager Reimbursementsakaren@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. You can also connect with Offit Kurman via FacebookTwitterGoogle+YouTube, and LinkedIn.