Description
Explains the rules and guidance surrounding the referral of business, including limits on amounts and types of referral compensation. Describes the Regulation R provisions that address referral compensation applicable to bank employees who refer customers to broker-dealers. Describes Regulation Z’s Loan Originator Compensation rules that address the limited circumstances when a bank employee who is not a loan originator may make a referral.
(NOTE: This course does not cover referral and compensation rules under Section 8 of RESPA.)
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