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Incentives Consumer Financial Protection Bureau

CFPB Warns Financial Institutions About Incentives

Use caution when creating incentives for employees and service providers to meet sales and other business goals, the Consumer Financial Protection Bureau warned financial institutions in a new Compliance Bulletin....more

Caveat Venditor: CFPB Bulletin on Sales Practices and Incentive Compensation Suggests More Enforcement Actions may be Coming

by Davis Wright Tremaine LLP on

On November 28, 2016, the Consumer Financial Protection Bureau (the “Bureau”) issued CFPB Compliance Bulletin 2016-13, titled “Detecting and Preventing Consumer Harm from Production Incentives” (the “Bulletin”). Inviting...more

CFPB issues final rules on incentives and mandatory arbitration

by Saul Ewing LLP on

The CFPB issued final rules reducing the financial incentives for loan officers and brokers in "risky and high-cost" consumer loans and toughening qualification standards for loan originators....more

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