One of the Consumer Financial Protection Bureau's ("CFPB") primary goals is to protect consumers. Protecting consumers necessarily means ensuring that companies and individuals stop violating the consumer laws. But stopping illegal conduct in the future does not help the consumers who have already been harmed. In many of the cases prosecuted by the CFPB, the defendants illegally took money out of the pockets of consumers: They charged fees that were expressly illegal; they charged consumers more than the consumers owed or more than the defendants had disclosed; and they deceived consumers about what the consumers were buying or how much it would cost. Remediating this harm-giving back money actually taken from consumers through the defendants' illegal conduct-is an essential part of protecting consumers, and through the end of its 2019 fiscal year, the CFPB often required the defendants to pay consumers directly for the harm identified by the CFPB.
|Number of pages
|University of Illinois Law Review
|Published - 2021