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CFPB: 401(k) OK for loan originators
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Banking, Consumer Protection, Nonbank Financial
Wednesday, April 11, 2012
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The Consumer Financial Protection Bureau said employers may contribute to loan originators’ 401(k) and other qualified profit sharing plans even when those contributions come from loan origination profits. The clarification comes amid confusion over how Federal Reserve rules regarding loan originator compensation impact such plans. Read on for the details.
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