CFPB MLO Compensation

On January 20th the Consumer Financial Protection Bureau amended the Truth in Lending Act to implement loan originator compensation requirements dictated by the Dodd-Frank Wall Street Reform and Consumer Protection Act. Two sections of the new requirements deal with arbitration agreements and credit insurance products and prohibit the use of both in certain circumstances.  These rules go into effect on June 1, 2013, so please join us on the Compliance Connection to review the new requirements. To get the actual text of rule click here. Click here for a complete handout of this presentation and be sure to follow us on Twitter!

Uploaded on Mar 19, 2013

Tags: CU compliance connection, shawn wolbert, arbitration agreements, credit insurance