Consumer Financial Protection Bureau Supervision recovers $14 million in first half of 2017 for over 100,000 consumers harmed by illegal practices – CUInsight

The Consumer Financial Protection Bureau’s (CFPB) mission statement claims the agency "helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives." While the CFPB’s mission statement outlines a number of laudable goals, reports show the Bureau has all but.

CFPB recovers .3 million for Consumers. The Consumer Financial Protection Bureau (CFPB) has released its latest supervision report where the exams of banks and non-banks resulted in the remediation of $14.3 million to approximately 228,000 consumers. In its examinations covering the last months of 2015, the Bureau found violations in.

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CFPB announced that recent supervisory actions resulted in $14 million in relief to more than 104,000 harmed consumers

During its first six years on the job, the CFPB has returned almost $12 billion dollars to 29 million consumers and imposed about $600 million in civil penalties. The bureau has gone after abusive practices by debt collectors and credit bureaus, as well as predatory lending to military families. A few examples:

CFPB Supervision of Banks and nonbanks recovers .3 million for Consumers. As the Bureau highlighted last year , some private student loan promissory notes contain an "auto default" clause that lenders trigger to immediately demand payment on the entire loan amount if a co-borrower files for bankruptcy or dies.

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CFPB Supervision Recovers $14 Million in First Half of 2017 for Over 100,000 Consumers Harmed by Illegal Practices WASHINGTON, D.C. – The Consumer Financial Protection bureau (cfpb) today announced that recent supervisory actions resulted in $14 million in relief to more than 104,000 harmed consumers from January through June 2017.

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Last week, the Consumer financial protection bureau (cfpb) announced that in January to June of 2017, supervisory actions resulted in $14 million for over 104,000 consumers. "The Bureau’s recent supervision work has returned $14 million to more than 100,000 consumers, and found companies deceiving consumers and violating the law," CFPB Director Richard Cordray stated.