Civil Penalty Fund: consumer education and financial literacy

If funds remain after all eligible victims have received full compensation (or if further compensation to victims is otherwise not practicable), Civil Penalty Fund money may go toward consumer education and financial literacy programs. These initiatives are structured to help consumers make sound financial decisions that serve their own financial goals.

Program implementation

The Bureau hires outside contractors to provide consumer education and financial literacy programs and to ensure their effectiveness. Procurement opportunities will be posted as CPF funds are allocated.

Read more about contractor and program requirements 

Financial coaching for veterans

The Armed Forces Services Corporation is implementing a program to provide financial coaching services to transitioning veterans and economically vulnerable consumers. This is the very first consumer education and financial literacy program funded by the Civil Penalty Fund.

Learn more about the financial coaching initiative

Frequently asked questions about consumer education & financial literacy


Every six months, the Fund Administrator will decide how much money, if any, to allocate for consumer education and financial literacy purposes. The first priority will always be to allocate funds for payments to victims. However, if funds remain after allocating enough money to provide full compensation to all eligible victims who can practicably be paid, the Fund Administrator may allocate some or all of those remaining funds for consumer education and financial literacy programs. 

The Bureau has adopted a set of criteria for selecting programs that will serve consumers and improve consumer education and financial literacy. The criteria require, among other things, that the programs further the Bureau’s mission and strategic goals; promote or enhance financial literacy and consumers’ economic security; and include specific outcome targets to ensure the programs’ effectiveness.

To date, the Bureau has funded one consumer education and financial literacy program with Civil Penalty Fund money.  That program provides financial coaching for two groups of Americans: (1) recent veterans who are transitioning from servicemember to veteran life, as well as military widows and widowers, and (2) economically vulnerable consumers who want to improve their approach to money management. The Bureau has contracted with Armed Forces Services Corporation to run this program.

Learn more about the financial coaching initiative

The Bureau utilizes the federal procurement process for these programs and will post information about the process and contract requirements as Civil Penalty Fund money becomes available for consumer education and financial literacy programs.

The Bureau does not make grants with Civil Penalty Fund money.  The Bureau uses the federal procurement process to award contracts for the administration of consumer education and financial literacy programs.