CFPB Distributes $1.8 Billion in Refunds to Credit Repair Victims
TL;DR Summary
The Consumer Financial Protection Bureau (CFPB) is distributing $1.8 billion to 4.3 million consumers who were charged illegal fees by credit repair companies, including Lexington Law and CreditRepair.com. This marks the largest distribution from the CFPB's victims relief fund, which is financed by civil penalties from companies violating consumer protection laws. The distribution follows a legal judgment against these companies for violating the Telemarketing Sales Rule. Payments will be sent to affected consumers without requiring any action from them.
Topics:business#cfpb#consumer-protection#consumer-rights#credit-repair#financial-relief#legal-action
- CFPB Announces Return of $1.8 Billion in Illegal Junk Fees to 4.3 Million Americans Harmed in Massive Credit Repair Scheme Consumer Financial Protection Bureau
- CreditRepair.com and Lexington Law refund checks: What you need to know Consumer Financial Protection Bureau
- More than 4 million people to share $1.8 billion in refunds, the CFPB says. Here's what to know. CBS News
- CFPB Begins Largest-Ever Distribution to Victims in ‘Advance Fee’ Case PYMNTS.com
- CFPB disburses $1.8 billion to victims of credit-repair scheme American Banker
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