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CFPB Releases Supervisory Highlights for Summer of 2017
On Tuesday, September 12, 2017, the CFPB announced in their Supervisory Highlights that supervisory actions taken through June, 2017, have resulted in $14 million going to more than 104,000 consumers. Other issues covered in the Supervisory Highlights include information about checking account fees, overdraft coverage, pay-by-phone fees, vehicle repossession, and consumer communications surrounding debt collection.
“The Bureau’s recent supervision work has returned $14 million to more than 100,000 consumers, and found companies deceiving consumers and violating the law,” said CFPB Director Richard Cordray. “Through supervision, the CFPB is putting an end to practices that harm consumers and taking proactive steps to prevent future violations."