Legal Blog

Compensation and Compliance Matters: The CFPB Will Not Be Ignored

Lenders are expected to put systems in place to affirmatively detect and remedy deficiencies before consumers are harmed. The Consumer Financial Protection Bureau made these expectations explicit in their exam guide in 2012. At first, the agency’s enforcement was sporadic and limited to the largest banks and alleged affirmative misconduct. However, the CFPB’s recent actions demonstrate it intends to now enforce the principles set forth in the exam guide.. .Click here to read the entire article on National Mortgage News. 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. You can also connect with Offit Kurman via FacebookTwitterGoogle+YouTube, and LinkedIn. WASHINGTON | BALTIMORE | FREDERICK | PHILADELPHIA | WILMINGTON | VIRGINIA