First enforcement of federal loan officer compensation rule is in Utah

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A new federal consumer protection agency filed its first lawsuit in Utah on Tuesday that alleges a violation of a federal rule prohibiting compensation to consumer loan officers based on term or conditions of mortgages. The Consumer Financial Protection Bureau, created in July of 2010, sued Castle & Cooke Mortgage, company President Matthew A. Pineda and Buck L. Hawkins, senior vice president for capital markets. The agency, created by the Dodd-Frank Wall Street Reform and Consumer Protection Ac...

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