FDIC Statement on CFPB Bulletin 2012-02: Payments to Loan Originators Based on Mortgage Transaction Terms or Conditions under Regulation Z
Advanced Search
Select up to three search categories and corresponding keywords using the fields to the right. Refer to the Help section for more detailed instructions.

Search our Collections & Repository

For very narrow results

When looking for a specific result

Best used for discovery & interchangable words

Recommended to be used in conjunction with other fields

Dates
...

to

...
Document Data
Library
People
Clear All
...
Clear All

For additional assistance using the Custom Query please check out our Help Page

!

Retired


This Document Has Been Retired.

FDIC Statement on CFPB Bulletin 2012-02: Payments to Loan Originators Based on Mortgage Transaction Terms or Conditions under Regulation Z



Details You May Also Like

Details:

  • Publisher's site:
  • Corporate Authors:
    Federal Deposit Insurance Corporation (FDIC)
  • Description:
    The Consumer Financial Protection Bureau (CFPB) issued Bulletin 2012-02 on April 2, 2012, to provide additional guidance on permissible forms of compensation to loan originators under the Truth in Lending Act - Regulation Z's Compensation Rules (12 C.F.R. § 1026.36). The Bulletin addresses whether and how the Compensation Rules apply to qualified profit-sharing, 401(k), and employee stock ownership plans (collectively, Qualified Plans). Specifically, the CFPB indicates that the Compensation Rules permit employers to contribute to Qualified Plans out of a profit pool derived from mortgage originations. The CFPB does not provide guidance on profit-sharing arrangements or plans that are "not in the nature of Qualified Plans," but indicates it anticipates providing greater clarity in a future rulemaking.
  • Content Notes:
    Cites 75 Fed. Reg. 58509, 9/24/2010|Regulation Z: Truth in Lending

    Cites 76 Fed. Reg. 79768, 12/22/2011|Truth in Lending (Regulation Z)

  • Subject:
  • Dataset Download URL:
  • Format:
    PDF
  • Release Date:
    04/17/2012
  • Update Date:
    11/26/2018
  • Withdrawn Date:
    12/01/2018
  • Agencies Involved:
    Federal Deposit Insurance Corporation (FDIC);Board of Governors of the Federal Reserve System (The Fed);Consumer Financial Protection Bureau (CFPB);
  • Fdic Employee Involved:
    Sandra Barker;Glenn Gimble;
  • Law Involved:
    Truth in Lending Act;Dodd-Frank Wall Street Reform and Consumer Protection Act;
  • Related Regulation:
    Regulation Z|;12 CFR Part 1026.36;
  • Source:
    FDIC Website
  • Memorandum To:
    FDIC-Supervised Banks
  • FIL Number:
    FIL-20-2012
  • Main Document Checksum:
  • Download URL:
  • File Type:
    Filetype[PDF-1.21 MB]

You May Also Like

Checkout today's featured content at archive.fdic.gov

Version 3.27.1