Legal Blog

Compensation and Compliance Matters: CFPB Shows No Signs of Forgetting About RESPA

For those hoping the Consumer Financial Protection Bureau’s focus has turned away from the Real Estate Settlement Procedures Act, last week’s RealtySouth consent decree is a reminder the agency is still looking at compliance as it pertains to marketing and disclosures. This time, the CFPB hit RealtySouth with a $500,000 penalty for inadequate affiliated business disclosures. Specifically, the agency found the company violated RESPA because disclosures did not use capital letters, and disclosures were contained within other marketing materials and information that distracted from the disclosure itself. 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.