The final rule on loan originator compensation was released in August 2010 and takes effect in April 2011. It requires consistent compensation agreements between loan originators and their employers or brokers. Agreements must specify compensation in terms of a flat fee, hourly rate, or percentage of the loan amount, and compensation cannot be related to the loan terms. Originators cannot steer consumers to loans with higher compensation unless it is in the consumer's best interest. Retail managers cannot receive compensation related to branch profits. The rule is aimed at preventing steering and improper compensation incentives.