Real Estate Compliance and CFPB Compliance
Recently, Braden Perry discussed Real Estate encryption and client privacy with Virtru Business Solutions Blog and described how the Consumer Financial Protection Bureau (“CFPB”) monitors compliance and privacy.
The CFPB is designed to help consumers across the financial industry, said Perry. And company culture is often the biggest obstacle to CFPB compliance: “Many regulated companies are “reactive,” meaning that they do not anticipate issues but wait for issues to arise and then act or “react.” [They’re] short-sighted, looking at the near-term and not focused on long-term goals. “Proactive” companies are forward looking, not only in anticipating issues that might arise, but in having clear directions and goals.”
Perry recommended that companies remain open to change. Reactive organizations tend to resist security initiatives, creating an “uphill battle” for compliance staff. To succeed, organizations need full management buy-in.
For the entire blog, please see:
About Braden Perry
Braden Perry is a regulatory and government investigations attorney with Kennyhertz Perry, LLC. Mr. Perry has the unique tripartite experience of a white collar criminal defense and government compliance, investigations, and litigation attorney at a national law firm; a senior enforcement attorney at a federal regulatory agency; and the Chief Compliance Officer/Chief Regulatory Attorney of a global financial institution. Mr. Perry has extensive experience advising clients in government inquiries and investigations, particularly in enforcement matters involving emerging or novel issues. He couples his technical knowledge and experience defending clients in front of federal agencies with a broad-based understanding of compliance from an institutional and regulatory perspective.
About Kennyhertz Perry, LLC
Kennyhertz Perry, LLC is a business and litigation law firm representing clients in highly regulated industries. The firm was founded by two veteran Kansas City attorneys, John Kennyhertz and Braden Perry. To learn more about the firm, visit kennyhertzperry.com.