An official website of the United States Government


You have the right to a fair financial marketplace


We've secured over $10.8 billion dollars in relief for consumers harmed by illegal practices.

The Consumer Financial Protection Bureau (CFPB) was created in the wake of the financial meltdown to stand up for consumers and make sure they are treated fairly in the financial marketplace. One way we accomplish this mission is by enforcing consumer protection laws, holding law breakers accountable for their actions. Since 2011, we have secured over $10.8 billion dollars in relief for more than 25 million consumers harmed by illegal practices.


We’ve secured billions of dollars in relief for consumers harmed by systematic misconduct and illegal practices by companies in the mortgage industry. We’ve taken several actions against mortgage servicing companies for failing to tell borrowers when their loan modification applications were incomplete, denying loan modifications to qualified borrowers, failing to honor modifications for loans transferred from other servicers, and illegal foreclosure practices. We have also taken action against companies in the mortgage industry for steering consumers into costlier loans, for paying illegal kickbacks in exchange for business, and for making inadequate disclosures or using deceptive ads.

Credit cards

We’ve secured billions of dollars of relief for millions of consumers harmed by deceptive marketing and enrollment of credit card add-on products, unfair billing, and illegal debt collection practices.

Payday and installment lending

We have taken action against payday lenders and installment lenders for unlawful lending and collections practices that include using false threats of lawsuits or criminal prosecution to collect debts, charging undisclosed fees to servicemembers, and robo-signing court documents related to debt collection lawsuits.

Learn more about how we’re enforcing consumer protection laws in other product areas including auto lending, debt collection, debt relief, student lending, checking accounts, and more.

Citibank to refund $700 million to credit card customers for unfair and deceptive practices


Today we’re ordering Citibank, N.A. and some of its subsidiaries to refund approximately $700 million to customers for unfair and deceptive credit card practices. This includes unfairly billing consumers for credit card add-on products, deceptively marketing those products, and deceptive collection practices. Citibank has agreed to pay about $700 million in refunds on about 8.8 million accounts.

If you were among the millions of people affected, Citibank should have already notified you or will notify you directly. You do not have to take any action. If you have questions about whether you are entitled to a refund, you can contact Citibank at the number on the back of your credit card. Generally, consumers who were signed up for these products on or after January 1, 2009, will receive full or partial refunds. If you are unsatisfied with Citibank’s response, you can submit a complaint online or by calling us at 855-411-2372.

You might be eligible for a refund if you paid for credit and identity monitoring, credit protection products, or an expedited payment fee.

Credit and identity monitoring products

Nearly 2.2 million consumers who enrolled between 2000 and 2013 have already received or will receive refunds of about $196 million in fees for credit monitoring products (Privacy Guard, DirectAlert, IdentityMonitor, Citi Credit Monitoring Service). If you enrolled in these products, but did not receive all of the services promised, you will receive full refunds for the time you did not receive full services. Most eligible consumers have already received refunds.

Separately, we found that Citibank violated the law when enrolling some IdentityMonitor consumers and when some IdentityMonitor consumers called to try to cancel that product. The amount of refund is determined by a few factors, including whether consumers tried to cancel (even if they were persuaded to keep it), and how long they stayed in the product.

Consumers who enrolled in IdentityMonitor over the phone on or after January 1, 2009, but who did not upgrade to “triple bureau” credit monitoring, will receive full or partial refunds. You are also eligible if you enrolled over the internet between January 1, 2009 and April 1, 2012.

Debt protection products

We found that Citibank violated the law when selling certain debt protection products (AccountCare, Balance Protector, Credit Protection, Credit Protector, and Payment Safeguard) to some consumers. Some of the deceptive practices happened during telemarketing sales calls, while others happened when consumers applied for credit cards at certain retail stores, using “point of sale” terminals or at specialty services desks.

Consumers who enrolled in these products on or after January 1, 2009, will generally receive refunds. Certain consumers are excluded, including if you paid a claim for benefits under the products or if you signed and returned an “Acknowledgment of Membership” form after enrolling.

Certain consumers who enrolled in these products prior to December 31, 2008, may also be eligible for a refund.

Expedited payment fee

Finally, we found Citibank violated the law when they tried to collect overdue payments from some consumers with cards issued by Citibank’s subsidiary, Department Stores National Bank (DSNB). During collection calls, Citibank sometimes charged an “expedited payment fee” of $14.95 without telling the consumer it was charging the fee or misrepresented the purpose of the fee. Nearly 1.8 million consumers who paid an “expedited payment fee” since January 1, 2009 when their DSNB credit card account was delinquent will receive all “expedited payment fees” paid during that time.

Citibank is responsible for providing refunds

Watch out for scammers claiming they will get you a refund. When large numbers of consumers get refunds, scammers sometimes pop up. The scammer may charge you a fee or try to steal your personal information. If someone tries to charge you, tries to get you to disclose your personal information, or asks you to cash a check and send a portion to a third party to “claim your refund,” it’s a scam. Please call us at 855-411-CFPB (2372) to report the scam.

Eligible consumers will get a refund directly, typically by a credit to your account or a check.

Debt settlement company Morgan Drexen is no longer in business: What you should know


Morgan Drexen has gone out of business. If you are a Morgan Drexen customer, you must take action on your debts. You can also request a refund of any money that is currently in your settlement account.

In 2013, we sued debt settlement company Morgan Drexen for collecting illegal “upfront fees” for debt settlement services and for running deceptive advertisements. We prevailed in our lawsuit: in April 2015, a federal court ruled against Morgan Drexen and found that the company misled the court and falsified evidence during the lawsuit. The court later ruled that Morgan Drexen must stop collecting money from its customers. Morgan Drexen went out of business in late June 2015 after filing for bankruptcy.

Next steps for Morgan Drexen customers

Soon you should receive an official letter and an e-mail explaining how you can protect your rights now that Morgan Drexen is no longer in business. This letter will provide you with information about your account and where to pay debts that have not been paid off. The letter will tell you whether you are currently in a settlement payment plan and what you need to do to keep that plan on track. If you are in a settlement payment plan, you must act quickly to avoid losing the terms of your settlement and reduced debt amount.

If you have debts that were not settled, you will need to consider other options to resolve those debts. You can negotiate directly with creditors to try to get a reduced payment plan on your debts. If you are thinking of paying another company for debt settlement services, you should first carefully review your options to avoid illegal upfront fees and other scams.

Requesting a refund

You have the right to request a refund of any money that is currently in your settlement account. Start by contacting the attorney who worked for you on your debts with Morgan Drexen. The attorney will have access to your settlement account. Because your attorney is required to hold your settlement account as a “trust account,” he or she must provide you with a refund of any money in that account.

The amount of money in your settlement (trust) account will likely be less than what you have paid Morgan Drexen because Morgan Drexen charged you upfront fees. Even though the court ruled that these upfront fees are illegal, the court has not yet decided whether it will order Morgan Drexen to return all the fees that were illegally charged to consumers. Since Morgan Drexen filed for bankruptcy, the bankruptcy process will have to run its course before we know if there will be any money left for consumer refunds.

Still have questions?

Morgan Drexen is out of business, but another entity is now running its website. That website is an important source of information for Morgan Drexen’s former customers. Please visit for more information about how to protect your rights. You can also log-in to your Morgan Drexen account to see the status of your debts and payment for your settlements.

Updated on July 29, 2015 as Morgan Drexen will be shutting down completely and their phone number will be disconnected.

We’re ordering JP Morgan Chase to refund $50 million and stop collecting on 528,000 accounts


Today we’re ordering JP Morgan Chase to stop illegal debt collections practices. Along with the Attorneys General in 47 states and the District of Columbia, we found that Chase sold credit card accounts to debt buyers that included amounts that were inaccurate or debts not owed by the consumer. Debt buyers then sought to collect the faulty debts it purchased from Chase. We’re ordering Chase to reform its debt sales practices to prohibit it from selling certain types of debt, like old or disputed debts, and “zombie debt” which are debts that debt collectors repeatedly attempt to collect, even when it’s not collectible. Chase will also have to provide specific documentation to debt buyers when it does sell debts, and must prohibit its debt buyers from re-selling debts they buy from Chase.

Chase also filed more than 528,000 lawsuits against consumers to collect on debts, often using sworn documents that were “robo-signed” and not verified for accuracy. As a result, Chase must refund at least $50 million to consumers, stop collecting on all of these accounts, and include specific information when filing debt collection lawsuits in the future. Chase must also pay $136 million in penalties and payments to the CFPB and states.

Chase has already begun compensating consumers and will contact you if you are eligible for payment. If you have questions about your eligibility for your refund, or to find out if Chase is prohibited from collecting on your account, you can contact Chase.

Debt collection complaints remain high

Of all of the complaints we receive from consumers, debt collection is one of the largest categories.

If you don’t recognize a debt from a debt collector, you have certain rights to verify debt. You can send a letter to the debt collector to request more information. If you have a complaint about debt collection, you can submit a complaint online or by calling us at (855) 411-2372.

Ally settlement administrator will contact eligible borrowers soon


In December 2013, together with the Department of Justice (DOJ), we ordered Ally Financial Inc. and Ally Bank to pay $80 million in damages to consumers harmed by Ally’s auto loan pricing policies that resulted in discrimination. We found that Ally had a policy of giving dealers the discretion to increase or “mark up” consumers’ interest rates, and paying dealers for those markups. We found that between April 2011 and December 2013, Ally’s markup policy resulted in African-American, Hispanic, Asian and Pacific Islander borrowers paying more for auto loans than similarly situated non-Hispanic white borrowers. Ally agreed to a settlement and is paying a settlement administrator to distribute the $80 million in damages to harmed borrowers. Ally will also refund affected borrowers who it overcharged after December 2013, and Ally has already started paying some of those borrowers.

For Ally auto loans obtained between April 2011 and December 2013, the Ally Settlement Administrator will locate and send checks to affected borrowers who were overcharged. Over the next weeks, the Administrator will mail packages to identified borrowers with instructions for how to participate in the settlement. Borrowers who are African American, Hispanic, Asian, or Pacific Islander and who obtained an auto loan from Ally between April 1, 2011 and December 31, 2013 may be eligible for a payment from the Administrator. If you think you are eligible, you should look for a package explaining the specific minimum amount of money that you may be eligible to receive. Your actual payment amount may be greater, depending on how many borrowers participate in the settlement.

How to respond if you receive a package

The packages will tell you what you must do to receive your payment. To get your payment, you should follow those instructions, including returning any required forms. You can return any forms by postage pre-paid mail, fax, or through the Administrator’s website. Just follow the instructions on the form. Be sure to submit any required forms by October 24, 2015. Only those eligible consumers who return required forms by October 24, 2015, will receive their payment.

What to do if you think you are eligible but do not receive a package

If you don’t receive a package in the mail by July 15, 2015, but you think you should receive a payment, you can call the Ally Settlement Administrator to ask about your eligibility. You can also fill out a claim eligibility form and submit it to the administrator by mail, fax, or through the administrator’s website.

Participating in the settlement is free

Watch out for scammers claiming that they will help you for a fee or asking for your personal information in order to get your check. When large numbers of consumers receive settlement money, scammers sometimes pop up. The scammer may charge you a fee or try to steal your personal information. While you are of course free to speak with an attorney, you do not need to hire a lawyer or pay anyone a fee in order to participate in this settlement.

As part of this settlement, the Ally Settlement Administrator, the CFPB, the DOJ, or your local U.S. Attorney’s office may contact you. Ally is paying Heffler Claims Group to serve as the Administrator. You should treat any other contact claiming to be related to this settlement as a scam. Please immediately report any scam to the Administrator at

Still have questions?

If you have any questions, check out the Ally Settlement Administrator’s website or call the Administrator, starting on June 26, 2015, at 1 (844)-271-4780.

Learn more about how you can protect yourself from credit discrimination.

Un administrador del acuerdo de Ally en breve estará en contacto con prestatarios elegibles


En diciembre de 2013, junto con el Departamento de Justicia (DOJ), ordenamos a Ally Financial Inc. y Ally Bank a pagar $80 millones en daños y perjuicios a los consumidores perjudicados por las políticas de precios de préstamos para vehículo de Ally que dieron lugar a discriminación. Descubrimos que Ally tenía una política de dar a los concesionarios la discreción para aumentar o “elevar los márgenes” de las tasas de interés de los consumidores y pagar a los concesionarios esos márgenes. Encontramos que, entre abril de 2011 y diciembre de 2013, la política de márgenes de Ally dio lugar a que los prestatarios afroamericanos, hispanos, asiáticos e isleños del Pacífico pagaran más por los préstamos para vehículo que los prestatarios blancos no hispanos en situación similar. Ally llegó a un acuerdo y contrató a un administrador de acuerdos para distribuir los $80 millones en daños a los prestatarios perjudicados. Ally también reembolsará a los prestatarios afectados a quienes cobró sobreprecios después de diciembre de 2013, y Ally ya ha comenzado a pagar a algunos de esos prestatarios.

Para préstamos de vehículo de Ally obtenidos entre abril de 2011 y diciembre de 2013, el Administrador del Acuerdo de Ally localizará a los prestatarios afectados que tuvieron sobreprecios y les enviará cheques. Durante las próximas semanas, el administrador enviará por correo paquetes informativos a los prestatarios identificados con instrucciones sobre cómo participar en el acuerdo. Los prestatarios afroamericanos, hispanos, asiáticos o de las islas del Pacífico que obtuvieron un préstamo para vehículo de Ally entre el 1 de abril de 2011 y el 31 de diciembre 2013 pueden ser elegibles para un pago del administrador. Si piensa que usted es elegible, manténgase en alerta para un paquete informativo que explica la cantidad mínima específica de dinero que usted puede ser elegible para recibir. El monto de su pago efectivo puede ser mayor, según el número de prestatarios participando en el acuerdo.

Cómo responder si recibe un paquete

Los paquetes le dirán lo que debe hacer para recibir su pago. Para recibir su pago, debe seguir esas instrucciones, incluido devolver los formularios requeridos. Puede devolver los formularios por correo con porte prepagado, por fax o a través del sitio web del administrador. Simplemente siga las instrucciones del formulario. No olvide enviar los formularios antes del 24 de octubre 2015. Sólo consumidores elegibles que devuelven formularios requeridos antes del 24 de octubre 2015 recibirán sus pagos.

Qué debe hacer si cree que es elegible pero no recibe un paquete

Si no recibe un paquete por correo antes del 15 de julio 2015, pero cree que debería recibir un pago, llame al Administrador del Acuerdo de Ally para preguntar por su elegibilidad. También puede llenar un formulario de elegibilidad para reclamación y enviarlo al administrador por correo, por fax o a través del sitio web del administrador.

La participación en el acuerdo es gratuita

Tenga cuidado con los estafadores que dicen que le ayudarán por una comisión o que le piden información personal con el fin de que pueda recibir su cheque. Cuando un gran número de consumidores recibe dinero de acuerdos es cuando a veces aparecen los estafadores. El estafador le puede pedir dinero o tratar de robar su información personal. Si bien usted está en total libertad de hablar con un abogado, no necesita contratar a un abogado ni pagarle a nadie para poder participar en este acuerdo.

Como parte de este acuerdo, el Administrador del Acuerdo de Ally, el CFPB, el DOJ o la oficina del Fiscal de EE. UU. local pueden ponerse en contacto con usted. Ally ha contratado a Heffler Claims Group para servir de Administrador. Debe tratar como estafa a cualquier otro intento de contacto que afirme estar relacionado con este acuerdo. Por favor, traiga a la atención inmediata del administrador cualquier estafa enviando un email a

¿Tiene más preguntas?

Si tiene preguntas, consulte el sitio web del Administrador del Acuerdo de Ally o empezando el 26 de junio de 2015, puede llamar al Administrador, al 1 (844) 271-4780.

Obtenga más información sobre cómo puede protegerse de la discriminación crediticia.