Ballard Spahr’s Alan S. Kaplinsky and three members of the mortgage banking industry were asked for their views on how the Consumer Financial Protection Bureau’s final rules would affect the industry.

Mr. Kaplinsky, who leads the firm’s Consumer Financial Services Group, said the rules will have a “substantial” impact on the way in which companies do business. He said it will mean that fewer consumers will be able to get loans, and those loans will become more expensive.

“There are also very real costs associated with the implementation of these rules—technology, additional staffing, third-party solutions—and those additional costs ultimately will result in more expensive products,” he said.

Related Practices

Consumer Financial Services
Mortgage Banking