{"id":3592,"date":"2024-05-14T10:50:15","date_gmt":"2024-05-14T17:50:15","guid":{"rendered":"https:\/\/economicintegrity.org\/?p=3592"},"modified":"2024-07-20T06:34:32","modified_gmt":"2024-07-20T13:34:32","slug":"cfpb-distributes-384-million-to-191000-victims-of-think-finances-illegal-lending-practices","status":"publish","type":"post","link":"https:\/\/economicintegrity.org\/?p=3592","title":{"rendered":"CFPB Distributes $384 Million to 191,000 Victims of Think Finance\u2019s Illegal Lending Practices"},"content":{"rendered":"\n<a href=\"https:\/\/www.consumerfinance.gov\/about-us\/newsroom\/cfpb-distributes-384m-to-191k-victims-of-think-finances-illegal-lending-practices\/\" target=\"_blank\" rel=\"noopener noreferrer\"><i class=\"fas fa-newspaper\" aria-hidden=\"true\"><\/i> Press release from CFPB | <span class=\"submitted-date\">May 14, 2024<\/span><\/a>\n\n\n\n<p><\/p>\n\n\n\n<a href=\"https:\/\/files.consumerfinance.gov\/f\/images\/VCD_by-state_Think-Finance_hires.original.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><i class=\"fas fa-file-image\" aria-hidden=\"true\"><\/i> <strong>View the map of distribution dollars by state<\/strong><\/a>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Arizona:<\/strong> Over $40 million dollars returned to Arizonans.<\/p>\n\n\n\n<p><strong>WASHINGTON, D.C.<\/strong> \u2013 The Consumer Financial Protection Bureau (CFPB) today distributed more than $384 million to about 191,000 consumers harmed by Think Finance. Think Finance, a Texas-based online lender, deceived borrowers into repaying loans they did not owe. The CFPB distributed the money through its <a href=\"https:\/\/www.consumerfinance.gov\/enforcement\/payments-harmed-consumers\/civil-penalty-fund\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">victims relief fund<\/a>.<\/p>\n\n\n\n<p>The CFPB\u2019s victims relief fund, also known as the Civil Penalty Fund, has distributed more than $1 billion to consumers harmed by scams, frauds, and other illegal practices. The CFPB\u2019s victims relief fund is a unique tool that helps the agency make harmed consumers whole when lawbreakers are unable to fully compensate their victims. Penalties paid into, and disbursed from, the victims relief fund are separate from monetary redress the CFPB orders lawbreakers to pay directly to harmed consumers.<\/p>\n\n\n\n<p>\u201cToo often, victims of financial crimes are left without recourse even when the companies that harm them are stopped by law enforcement,\u201d said CFPB Director Rohit Chopra. \u201cThe victims relief fund allows the CFPB to help consumers even when bad actors have squandered their ill-gotten profits.\u201d<\/p>\n\n\n\n<p>&#8230;continued&#8230;<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-outline is-style-outline--1\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/www.consumerfinance.gov\/about-us\/newsroom\/cfpb-distributes-384m-to-191k-victims-of-think-finances-illegal-lending-practices\/\" target=\"_blank\" rel=\"noreferrer noopener\">Read more<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Press release from CFPB | May 14, 2024 View the map of distribution dollars by state Arizona: Over $40 million dollars returned to Arizonans. WASHINGTON, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[10],"class_list":["post-3592","post","type-post","status-publish","format-standard","hentry","category-predatory-lending","tag-consumer-protection"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CFPB Distributes $384 Million to 191,000 Victims of Think Finance\u2019s Illegal Lending Practices - Southwest Center for Economic Integrity<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/economicintegrity.org\/?p=3592\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CFPB Distributes $384 Million to 191,000 Victims of Think Finance\u2019s Illegal Lending Practices - Southwest Center for Economic Integrity\" \/>\n<meta property=\"og:description\" content=\"Press release from CFPB | May 14, 2024 View the map of distribution dollars by state Arizona: Over $40 million dollars returned to Arizonans. 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