This week the Consumer Financial Protection Bureau (CFPB) issued a Compliance Bulletin entitled “Detecting and Preventing Consumer Harm from Production Incentives.” While not mentioning Wells Fargo Bank, N.A. (Wells Fargo) by name, the Bulletin is clearly written in response to the CFPB action against Wells Fargo Bank where the CFPB, the Office of the Controller of Currency (OCC), and the city of Los Angeles levied a $185 million penalty against the bank. insideARM wrote about the action on September 9, 2016.
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