4.3 Million Customers Will Get Refunded From Credit Repair Scheme—Are You One of Them? | Global News Avenue

Consumers will begin receiving notices from the Consumer Financial Protection Bureau (CFPB) if they have been affected by a credit repair program administered by CreditRepair.com and Lexington Law.

On Thursday, the bureau announced that Will raise US$1.8 billion This is the largest award the CFPB has ever issued to a victim. During its investigation into the companies, the government consumer watchdog found that customers were charged illegal fees or subjected to allegedly deceptive bait-and-switch advertising.

If you’re one of the 4.3 million consumers affected by this, you don’t need to take any action to get a refund. The CFPB has collected information from companies about you and the fees you pay. The CFPB says that amount may not cover everything you pay, but it will Proportional to the amount you pay.

Consumers should receive payments from the CFPB Victim Relief Fund between December 5 and January 5. Checks should be mailed by JND Legal Management, you can contact management here If you didn’t receive a payment but think you qualify.

Correction, December 5, 2024: A previous version of this article misstated the amount the CFPB would allocate in the compensation checks — $1.8 billion.