CliftonLarsonAllen (CLA), part of Nexia International in the US, has acquired Bankers Advisory, a consulting firm from Massachusetts that specialises in regulatory compliance issues within the mortgage market.
CLA expects an increased regulatory enforcement pressure in 2014, which as a result would prompt banks and credit unions to reassess their risk and compliance efforts.
"We believe the financial services industry will feel the impact of regulation even more going forward as the industry responds to the Consumer Financial Protection Bureau (CFPB) rules on mortgage loans," CLA managing principal of financial institutions practice Jerry Felicelli said.
Bankers Advisory has 35 professionals and a client base of more than 100 banks and mortgage lenders in the US, including depository institutions with assets worth more than $200bn, according to CLA.
CLA said the president and founder of Bankers Advisory, Anna DeSimone, is considered an authority in the area of mortgage risk, predatory lending and regulatory compliance.
"I founded Bankers Advisory to provide clear guidance for mortgage lenders in an ever-changing compliance universe," DeSimone said.
CliftonLarsonAllen (CLA) is the tenth largest US firm with revenues of $559m in the fiscal year 2012, according to IAB's latest US survey, and was admitted to Nexia International's network in February 2012.
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