The CFPB will distribute $1.8 billion to 4.3 million consumers overcharged by credit repair companies.

The Consumer Financial Protection Bureau (CFPB) will distribute $1.8 billion to 4.3 million consumers overcharged by credit repair companies like Lexington Law and CreditRepair.com. This is the largest distribution from the CFPB's victims' relief fund, financed by penalties from companies that violate consumer protection laws. The CFPB secured a legal judgment against these companies for taking illegal advance fees, leading to their bankruptcy and shutdown. Refunds will be mailed between December and January.

3 months ago
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