One way we further our mission to protect consumers is through appropriately sharing with state and local law enforcement agencies information that CFPB has gathered. Today, we’re announcing a new dimension in our ongoing sharing efforts. The CFPB recently signed a Memorandum of Understanding (MOU) with the Navajo Nation Department of Justice, setting out a [...]
Today, a federal district court entered an order that returns money to the pockets of American consumers and stops a company from violating laws. The case also represents a landmark for us: it’s the first time we’ve joined with state attorneys general in filing suit to enforce consumer-financial-protection laws. The order is a win for [...]
As a result of today’s order, American Express must repay an estimated $85 million to approximately 250,000 consumers. American Express will return the money directly into the accounts of the affected consumers. If the consumer no longer holds the American Express card, American Express will mail a check or credit any outstanding balance. Customers who [...]
As you have heard, today’s CFPB enforcement actions involve violations at three American Express entities and will return an estimated $85 million to approximately 250,000 consumers. This action resulted from collaboration with our fellow banking regulators and relied on our united goal of ensuring that every consumer is treated fairly under the law. From the [...]
As a result of today’s order, Discover will pay approximately $200 million in restitution to more than 3.5 million consumers.
How will consumers be refunded?
Anyone affected by this order will automatically receive a credit to their account, or, if they’re no longer a Discover customer, they’ll receive a check in the mail or have any outstanding balance reduced by the amount of the refund.
The Consumer Financial Protection Bureau (CFPB) has determined that Capital One marketed certain “add-ons” – fee-based services added to credit card accounts – in a way that violated federal law. As a result of enforcement action by the CFPB, Capital One agreed to automatically refund $140 million to 2 million Capital One customers. Capital One [...]