CFPB commits to record $1.8 billion distribution from victims relief fund

In what amounts to the largest distribution from its victims relief fund since the agency’s inception, the Consumer Financial Protection Bureau plans to distribute $1.8 billion to consumers harmed by deceptive and illegal practices by a conglomerate of credit repair companies. The bureau will reimburse 4.3 million people who were charged illegal advance fees or subjected to deceptive “bait-and-switch” tactics.