Each week, labor and employment attorney Ari Karen writes about the latest hearings and litigation in the financial sector, and offers his viewpoint on diverse compliance and compensation matters. Whether you run a business, work for a financial institution, or are involved in an employment dispute, Mr. Karen provides an important point-of-view on our nation’s volatile regulatory environment. Missed February’s Compensation and Compliance Matters? Catch up with this article round-up:
One of the most pervasive myths in the mortgage industry is the belief that marketing services agreements are illegal. As Mr. Karen writes, “that is simply wrong.” In his Feb 2nd column for National Mortgage News, he debunks the MSA myth, along with several other pieces of misinformation spread by recent incidents involving the Consumer Financial Protection Bureau (CFPB). Read the full article here.
Last month, the CFPB entered into consent decrees with two credit card issuers over what it deemed deceptive acts and practices. Though the two cases’ details differ, they share a common theme: veiled or excessive fees. Get the details and Mr. Karen’s interpretation of events here.
Another CFPB recent consent decree once again illustrates the agency’s uncompromising stance on deceptive marketing. This time, the target is NewDay Financial, which faces a $2 million civil penalty for conduct that violated the Real Estate Settlement Procedures Act (RESPA). Learn why Mr. Karen suggests lenders “disclose early and disclose often.” If you have any questions about these or other compliance and compensation matters please contact Ari Karen at: firstname.lastname@example.org | 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 connect with Offit Kurman via Facebook, Twitter, Google+, YouTube, and LinkedIn. WASHINGTON | BALTIMORE | FREDERICK | PHILADELPHIA | WILMINGTON | VIRGINIA