The CFPB has issued its Fall 2020 Semi-Annual Report to Congress covering the period April 1, 2020 through September 30, 2020.
With Director Kraninger having submitted her resignation to President Biden last week, the report represents the CFPB’s fifth and final semi-annual report under Director Kraninger’s leadership. Somewhat ironically, although the prior four reports did not provide aggregate numbers for consumer relief and civil money penalties obtained by the Bureau, the new report states that in calendar year 2020, “the Bureau filed the second-highest number of actions in the Bureau’s history, secured approximately $875 million dollars in customer relief and penalties, and opened investigations of banks and nonbanks in all of the Bureau’s markets.”… Continue Reading