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CFPB warns of risks sales incentives pose
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Consumer Protection, Corporate Governance
Thursday, December 1, 2016
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The Consumer Financial Protection Bureau has issued a bulletin warning financial institutions of the risk involved with tying bonuses or employment status to unrealistic sales and other business goals, stressing the importance of implementing an effective compliance management system to detect and prevent violations.
Read on to learn what enforcement actions some companies have incurred and how to stay compliant with the law regarding incentive programs.
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