Compensation Standards

News & Analysis as of

CFPB Settles With Mortgage Company, Senior Executives Over Alleged Loan Officer Compensation Practices

On November 7, the CFPB announced it reached a settlement with a mortgage company and two of its executives accused of using compensation to incentivize loan officers to steer consumers into costlier mortgages. The proposed...more

Burr Alert: A Look At The Consumer Financial Protection Bureau's New Loan Originator Compensation Rule Under The Truth In Lending...

On February 15, 2013, the Office of the Federal Register published the Consumer Financial Protection Bureau’s ("CFPB") final rule on loan originator compensation requirements under the Truth in Lending Act (Regulation Z)....more

OFCCP Rescinds Its 2006 Compensation Standards in Favor of More Flexible Approach to Pay Discrimination Compliance Evaluations

Effective February 28, 2013, the U.S. Department of Labor’s Office of Federal Contract Compliance Programs (OFCCP) rescinded its much criticized 2006 Compensation Standards and Voluntary Guidelines (Compensation Standards)...more

OFCCP Issues NEW Compensation Directive and Rescinds Compensation Standards and Voluntary Guidelines

The Office of Federal Contract Compliance Programs (OFCCP) announced today that effective February 28, 2013, it has rescinded the 2006 Compensation Standards (Standards) and Voluntary Guidelines. In the Notice of Final...more

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