Legal Blog

Compensation and Compliance Matters: Lenders, You Are Your Vendors’ Keeper

With consumers given the green light to sue lenders over the third-party vendors that they expose to borrowers, lenders have a mandate to ensure the consumer is protected. Utilizing reasonable checks and balances to protect consumers from illegal activity, both within and outside their organizations, is one significant way lenders can be certain they are doing everything they can. The Consumer Financial Protection Bureau has initiated a complaint against one lead generator and banned the principal of another for failing to properly protect consumers in regard to who the lead generators sold leads.

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.

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