CFPB updates FAQs on civil money penalties
June 24, 2022
On June 6, the CFPB updated its Civil Penalty Fund Frequently Asked Questions (FAQs). The FAQs, among other things: (i) present the Civil Penalty Fund Allocation Schedule; (ii) clarify basic definitions related to CFPB civil money penalties; (iii) clarify when the Bureau will begin to distribute funds; and (iv) explain redress and its difference from payments to victims from the Civil Penalty Fund.