Consumer Financial Civil Penalty Fund Rule Amendment

2 organizations filed 2 public comments on Consumer Financial Civil Penalty Fund Rule Amendment, at the Consumer Financial Protection Bureau. The comment window closed 375d ago.

Abstract

SUMMARY: The Consumer Financial Protection Bureau (Bureau or CFPB) is proposing to amend its 2013 rule implementing the provision of the Consumer Financial Protection Act of 2010 (CFPA or Act) that establishes a Consumer Financial Civil Penalty Fund (Civil Penalty Fund). Under the CFPA, the Civil Penalty Fund may be used for payments to victims of activities subject to civil penalties; to the extent victims cannot be located or payments are not practicable, the Bureau may use funds for consumer education and financial literacy programs. This proposed rule would remove references to allocating funds for consumer education and financial literacy programs. ADDITIONAL INFORMATION: For more information about commenting on CFPB’s Notices, please visit us at: https://www.consumerfinance.gov/rules-policy/notice-opportunities-comment/commenting-on-notices/

Commenters (2)

• American Bankers Associationtrade assoc.

  1 filing · confidence 97%
• National Federation of Independent Businesstrade assoc.

  1 filing · confidence 97%