CFPB’s 2023 enforcement actions in a nutshell

In a recent blog post, the Consumer Financial Protection Bureau offered a quick overview of its 2023 enforcement work. The agency reported that it filed 29 enforcement actions against financial institutions and resolved six prior lawsuits. Lenders, banks, and other entities that broke the law were ordered to pay approximately $3.07 billion to  consumers and pay $498 million in penalties. The blog post highlighted the CFPB’s efforts to stop misconduct such as illegal loans to servicemembers, discrimination, and junk fees. By the way, the bureau is expanding its enforcement team and is hiring.