Are Your Incentive Programs Exposing You to UDAAP Risks?

Compliance Services

March 01, 2017
by Shelley Foster

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With the recent fines and consent order issued to Wells Fargo, financial institutions are taking a look at their sales culture and incentive programs.  In response to the Wells Fargo findings, the Consumer Financial Protection Bureau (CFPB) issued a bulletin November 28, 2016, titled “Detecting and Preventing Consumer Harm from Production Incentives,” informing financial institutions of the risks of consumer harm that may result from poorly established and managed incentive programs

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