CFPB Incentive Compensation Bulletin

moneyThe Consumer Financial Protection Bureau (CFPB) issued a bulletin (CFPB Compliance Bulletin 2016-03 on Nov. 28, 2016) outlining expectations for incentive compensation programs. The bulletin compiles guidance previously issued by the CFPB and highlights examples from the agency’s supervisory and enforcement experience. The CFPB said that properly managed incentive programs can benefit both companies and customers, and that the types of incentive programs used by banks vary widely, but cautioned that inadequate oversight or setting unrealistic goals could lead to consumer harm. To ensure consumer protection, the CFPB reiterated its expectation that banks using incentive programs have proper compliance management systems in place to monitor and quickly respond to any potential violations of consumer protection laws.


One response to “CFPB Incentive Compensation Bulletin

  1. What’s up,I log on to your blogs named “CFPB Incentive Compensation Bulletin | Focus on Education & Training” like every week.Your humoristic style is witty, keep up the good work! And you can look our website about free anonymous proxies.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s