LITTLE SILVER – Matthew Cohen, a Monmouth County attorney and principal of Two Rivers Title Company, will be leading a discussion on the recent new rules established by the Consumer Financing Protection Bureau (CFPB) during the New Jersey State Bar Association’s annual meeting May 15 in Atlantic City.
Presenting with Cohen will be F. Bradford Batcha, Esq., of the law firm Batcha & Batcha, LLC in Red Bank.
The discussion will focus on changes to the bureau as they pertain to residential real estate settlements and the potential effect on title insurers and real estate attorneys throughout the state.
Cohen specifically will address how the upcoming CFPB rule changes will affect attorneys who represent clients buying and selling real estate during the settlement process. Such changes include requirements for internal financial controls, handling of privacy issues, as well as new settlement forms that will be required during the transaction.
Cohen also will discuss the American Land Tile Association’s (ALTA) “Seven Pillars of Best Practices” that address these changes, and how attorneys and title professionals can be compliant by following them. The Consumer Financing Protection Bureau (CFPB) is a component of the Dodd-Frank Wall Street Reform and Consumer Protection Act Public Law No. 111-203 (Dodd-Frank Act). The act was signed into federal law in July 2010 by President Obama.
