April 28, 2020 / 12:27 PM / a month ago

Mortgage banker who took kickbacks ducks six-figure contempt sanction

The Consumer Financial Protection Bureau’s consent order with a mortgage-bank manager who had taken kickbacks from a title company did not bar him from all work in the mortgage industry, a federal appeals court held Monday.

The 4th U.S. Circuit Court of Appeals affirmed a civil contempt finding against Gary Klopp based on his violation of several specific provisions of the 2015 consent order, but ordered a federal judge in Maryland to reassess the $527,000 sanction.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2KCy6YK

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below