More than 4 million people to share $1.8 billion in refunds, the CFPB says. Here's what to know.
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More than four million Americans gouged by credit repair companies including Lexington Law and CreditRepair.com will soon collectively receive $1.8 billion in refund checks, the Consumer Financial Protection Bureau announced Thursday.
The payments make up the biggest distribution yet from the CFPB's victims relief fund, financed by civil penalties paid by companies that violate consumer protection laws, the agency said.
Checks will be mailed in coming weeks to 4.3 million consumers who were charged illegal advance fees or subjected to allegedly deceptive bait-and-switch advertising by Lexington Law, CreditRepair.com and their parent companies, according to the federal agency.
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