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CFPB RIN: 3170-AA38 Publication ID: Spring 2014 
Title: Consumer Financial Civil Penalty Fund 
Abstract: The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) establishes a "Consumer Financial Civil Penalty Fund" (Civil Penalty Fund) into which the CFPB must deposit any civil penalty it obtains against any person in any judicial or administrative action under Federal consumer financial laws. Under the Dodd-Frank Act, funds in the Civil Penalty Fund may be used for payments to the victims of activities for which civil penalties have been imposed under Federal consumer financial laws. In addition, to the extent that such victims cannot be located or such payments are otherwise not practicable, the CFPB may use funds in the Civil Penalty Fund for the purpose of consumer education and financial literacy programs. This rule implements the relevant statutory provisions by articulating the CFPB's interpretation of what kinds of payments to victims are appropriate and by establishing procedures for allocating funds for such payments to victims and for consumer education and financial literacy programs. 
Agency: Consumer Financial Protection Bureau(CFPB)  Priority: Info./Admin./Other 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 1075 
Legal Authority: 12 USC 5512(b)(1); 12 USC 5497(d) 
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  05/07/2013  78 FR 26545 
Final Rule  05/07/2013  78 FR 26489 
NPRM Comment Period End  07/08/2013   
Final Rule  10/00/2014   
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Kristin Bateman
Legal Division
Consumer Financial Protection Bureau
Phone:202 435-7821

 
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