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Enforcement work continues with a commitment to protecting consumers

May 08, 2020 / Source: CFPB

Enforcement work continues with a commitment to protecting consumers

During these difficult times, the COVID-19 pandemic has not affected the Bureau’s ability or resolve to use its enforcement tool to police the consumer financial marketplace. Our enforcement team is on the job—while safely teleworking—and committed to vigorously enforcing consumer financial protection laws in all markets under our jurisdiction. We are monitoring the marketplace in real time and coordinating on an ongoing basis with fellow Federal and State regulators who are committed to stopping COVID-19-related malfeasance. We are taking, and will continue to take, swift action when we identify companies or individuals that violate the law to profit from the current economic uncertainty.

While the Bureau is mindful of challenges faced by institutions, we will not hesitate to take public enforcement action when appropriate against companies or individuals that engage in unfair, deceptive, or abusive acts or practices, discriminate, or otherwise violate Federal consumer financial protection laws, in order to profit from the COVID-19 pandemic.

To help us monitor the marketplace for unfair treatment, abuse, deception, and discrimination, consumers can submit complaints online. Complaints give us insights into problems people are experiencing in the marketplace and help us enforce federal consumer financial laws.

We also encourage current or former employees, contractors, vendors, and competitor companies to report potential violations of Federal consumer financial law. Whistleblowers should contact the Bureau at whistleblower@cfpb.gov or (855) 695-7974.

Find more information regarding COVID-19 from CFPB

We’re working to continuously update information for consumers during this rapidly evolving situation.

We will publish all COVID-19-related information and blogs to our resource page. Information should be considered accurate as of the blog publish date.

See our COVID-19 resource page

Topics:

DISASTERS AND EMERGENCIES

ENFORCEMENT