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This Bulletin is being issued in response to several inquiries the Consumer Financial Protection Bureau (“Bureau”) has received regarding the payment of compensation to loan originators under Regulation Z, 12 C.F.R. § 1026.36 (“Compensation Rules”). Loan originator compensation rules were originally adopted by the Federal Reserve Board in September 2010 (75 Fed. Reg. 58,509 (Sept. 24, 2010)), and covered institutions were required to comply with the provisions on April 6, 2011. Pursuant to Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”), rulemaking authority for Regulation Z transferred to the Bureau. In December 2011, the Bureau issued interim final rules recodifying the provisions of Regulation Z (76 Fed. Reg. 79,768 (Dec. 22, 2011)).
