Total CFPB Penalties Top $5B

Since its inception, the Consumer Financial Protection Bureau (CFPB) has penalized a wide variety of companies and people for violating federal consumer financial protection laws. The CFPB has the authority to issue penalties for violations of a range of laws, but the majority of fines issued to date have been for violations of several specific statutes, most often the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

The damages assessed by the CFPB vary widely from case to case – the Bureau has issued fines ranging from $1 to over $2 billion to different companies in different circumstances. insideARM has tallied up the penalties and found that, to date, the CFPB has ordered over $5 billion in total penalties since opening for business.

Click here to continue reading this article from insideArm by Doug Johnson.