This comment pushes back against the proposal by the Consumer Financial Protection Bureau (CFPB) to limit the permissible uses of the Consumer Financial Civil Penalty Fund. The proposed rule may signal a plan to stop compensating victims of companies that violate the law and then say they have no money to repay, and perpetuates a false narrative that the CFPB enforcement work is motivated by self-aggrandizement rather than helping consumers. The civil penalty fund was created to compensate people harmed by financial wrongdoers who go out of business or hide their assets after breaking the law.
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