Legal Blog

Compensation and Compliance Matters: CFPB Complaint Plan Invites Abuses, Assures Higher Cost

Last week the Consumer Financial Protection Bureau set forth a new proposal to make all complaints public and sort them by subject and lender. In addition, the lender’s response would also be public. It would be up to the borrower to control whether the complaint would be publicized or remain confidential. At first blush it may seem that there should be no hesitation with a public format. After all, why shouldn’t consumers be able to communicate publicly about their experiences?

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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.

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