Jonathan Kolodziej represents all types of consumer financial service providers in regulatory compliance, examination and enforcement matters. Through this work, he has assisted bank and non-bank mortgage servicers, mortgage originators, debt collectors, depository institutions, credit card issuers, small dollar lenders, reverse mortgage companies, investment firms, and various industry trade associations.
Jonathan’s regulatory compliance practice centers around helping clients ensure that their operations are in compliance with applicable federal and state consumer financial laws. In this role, he helps clients assess the impact of new rules and regulations and adapt to changes in the regulatory environment. Jonathan is able to analyze and synthesize complex regulatory changes and then explain the legal and operational impact to business, compliance, and legal stakeholders. When assessing an entity’s compliance or beginning the implementation process for a regulatory change, he leads clients through gap analyses, risk assessments and targeted reviews. He routinely reviews and provides feedback on policy and procedure documents, form notices, and training modules. As necessary, Jonathan also helps develop and execute appropriately tailored remediation plans.
Jonathan understands and appreciates that, in a heightened regulatory environment, the ability to prove your compliance is often equally as important as actually being compliant. As such, when helping financial service providers structure their day-to-day operations, he makes sure that policies, procedures, training and oversight functions are in place and structured so that an entity can quickly and definitively demonstrate their compliance to state and federal regulators. During examinations and other reviews, Jonathan regularly assists with managing and drafting responses to supplemental requests, developing successful exam strategies, rebutting preliminary findings, and responding to allegations of legal violations. He has helped clients with examinations initiated by various state regulatory bodies, the Consumer Financial Protection Bureau (CFPB), the Multistate Mortgage Company (MMC), the Office of the Comptroller of the Currency (OCC), and the Department of Housing and Urban Development (HUD). Because of his familiarity with clients’ operational structures and applicable law, Jonathan is also able to assist with responding to complaints and allegations of regulatory violations made by borrowers, state attorneys general and other regulatory bodies.
As a result of his familiarity with various federal consumer financial laws and regulations, Jonathan has taught regulatory compliance issues at the Mortgage Bankers Association’s Schools of Mortgage Banking I and II. He is also a frequent speaker during webinars and trade association presentations on regulatory compliance issues.
More Legal and Business Bylines From Jonathan R. Kolodziej
- Banks and Credit Unions Utilizing Ineffective Chatbots May Risk Violating Federal Law - (Posted On Thursday, February 01, 2024)
- Creditors Should Review Their Use of Immigration Status When Accepting and Evaluating Applications - (Posted On Monday, October 16, 2023)
- COVID-19 National Emergency Ends Sooner than Anticipated, Creating Risks for Mortgage Servicers - (Posted On Tuesday, April 11, 2023)
- CFPB Updates Mortgage Servicing Exam Procedures - (Posted On Thursday, February 02, 2023)
- CFSAA v. CFPB: Unpacking the Fifth Circuit Decision That CFPB’s Funding Structure Violates the Constitution [VIDEO] - (Posted On Friday, November 04, 2022)
- Fifth Circuit Court of Appeals Invalidates Small-Dollar Rule, Throws the Future of the CFPB Into Question - (Posted On Thursday, October 20, 2022)
- CFPB Releases RFI on Mortgage Servicing Rules Signaling Potential for Future Regulatory Reform - (Posted On Thursday, September 22, 2022)
- Fannie Mae and Freddie Mac Direct Collection of Borrower Information to Further Fair Lending and Fair Servicing Aims - (Posted On Tuesday, August 16, 2022)
- CFPB Issues Advisory Opinion Clarifying Its Views on When Debt Collectors Can Charge Consumers “Convenience Fees” - (Posted On Thursday, June 30, 2022)
- CFPB Issues Debt Collection Guidance and Creates More Uncertainty for Mortgage Servicers - (Posted On Monday, November 01, 2021)