The Consumer Financial Protection Bureau has issued a rule governing the administration of its new Civil Penalty Fund, created to compensate victims of a person or company that was fined in an enforcement action.
The fund, established by the Dodd-Frank Act, will draw from civil penalties collected by the CFPB from violations of federal consumer financial protection laws. The amount of compensation provided to victims will depend on the circumstances of each case and how much, if any, was received from other sources.
