Georgia consumers to receive more than $100 million in junk fees settlement
Source: Atlanta Journal-Constitution
Updated 11 hours ago
The U.S. Consumer Financial Protection Bureau will start sending refund checks to more than 240,000 Georgians who were charged illegal junk fees by a group of credit repair companies, the bureau announced Thursday. In all, more than $103.5 million will be disbursed to people in the state from the CFPB’s victims relief fund, one of the top payouts across the country.
About 4.3 million people nationwide will receive nearly $2 billion in checks from the agency’s victims relief fund, officials said. “This historic distribution of $1.8 billion demonstrates the CFPB’s commitment to making consumers whole, even when the companies that harm them shut down or declare bankruptcy,” Rohit Chopra, the agency’s director, said in a statement.
The CFPB’s victims relief fund is funded by civil penalties paid by companies that violate consumer protection laws. No taxpayer funds will be used to repay consumers, CFPB officials said.
The bureau last year settled its lawsuit against two of the biggest credit repair companies in the country — Lexington Law and CreditRepair.com — and a handful of other companies for illegally collecting upfront fees for services they had telemarketed to consumers. They were ordered to pay massive fines and barred from telemarketing credit repair services for a decade.
Read more: https://www.ajc.com/news/business/refund-checks-from-illegal-junk-fees-coming-to-georgians-soon/WIE3UG3V7FECTIULSFKS6LZMC4/
Link to CFPB NEWS RELEASE - CFPB Announces Return of $1.8 Billion in Illegal Junk Fees to 4.3 Million Americans Harmed in Massive Credit Repair Scheme
= new reply since forum marked as read
