Photo of Brittany J. Mouzourakis

Brittany J. Mouzourakis is an associate in Dykema's Commercial Litigation Practice Group in the Bloomfield Hills, Michigan office of Dykema. Prior to joining Dykema, Ms. Mouzourakis clerked for two years for the Hon. Bernard A. Friedman, Senior U.S. District Court Judge in the Eastern District of Michigan and completed a Legal Fellowship at Auschwitz for the Study of Professional Ethics.

The CFPB is warning financial services companies to carefully evaluate their employee incentive programs. Specifically, companies should scrutinize bonus structures that tether compensation and employment status to unrealistic sales goals. Such bonus structures, the CFPB cautions, “may intentionally or unintentionally encourage illegal practices such as unauthorized account openings, unauthorized opt-ins to overdraft services, deceptive sales tactics, and steering consumers into less favorable products.”

Continue Reading Take a Second Look at Incentive Programs, the CFPB Warns