White Paper

The CFPB's RESPA Consent Orders: Eight Key Takeaways

 

Consent Orders address the CFPB’s views regarding a range of promotional practices in the real estate marketplace

While some guidance can be discerned, by and large the CFPB’s tactics appear to be to continue to ignore Section 8(c) of RESPA and to pinpoint practices that it does not like, regardless of whether such practices are unlawful or not. This is exceedingly frustrating for an industry that has repeatedly asked for its regulator to simply lay out fair and sensible rules. In the meantime, providers’ compliance focus should include not only structuring agreements properly, but implementing them cautiously.

Agenda

Faculty

Jay N. Varon

Foley & Lardner LLP

Jay N. Varon is a partner and litigation lawyer in Foley & Lardner LLP's Washington D.C. office. Mr. Varon has litigated a broad cross-section of commercial cases around the country, including matters relating to the Real Estate Settlement Procedures Act (RESPA) and other federal and state consumer financial services laws, as well as cases involving antitrust, unfair competition, deceptive trade practice, trade secrets, environmental, business tort, securities fraud, and products liability issues.

Jennifer M. Keas

Foley & Lardner LLP

Jennifer M. Keas is a partner and consumer financial services lawyer with Foley & Lardner LLP where she litigates complex, high-stakes cases and other lawsuits and defends clients in investigations and proceedings initiated by the Consumer Financial Protection Bureau, as well as other matters involving regulatory agencies or state attorneys general.

Erik F. Benny

Foley & Lardner LLP

Erik Benny is an associate and litigation lawyer with Foley & Lardner LLP. He is a member of the Consumer Law, Finance & Class Action, Antitrust, and Business Litigation & Dispute Resolution Practices. Mr. Benny’s practice focuses primarily on defending high stakes consumer class actions brought under the Real Estate Settlement Procedures Act, the Sherman Act, and various state unfair trade practices and consumer protection laws.He also defends investigations and enforcement proceedings brought by federal regulatory agencies, such as the Consumer Financial Protection Bureau (CFPB), and proactively counsels clients on current or prospective business practices to help avoid such investigations and enforcement proceedings in the first place.

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