CFPB Slams Credit Repair Companies

Credit repair titans face a $2.7 billion settlement with the CFPB for charging customers illegal fees.

A man's hands holding a cell phone with the words "Bad credit? We can hellp!" on the screen.
(Image credit: Getty Images)

The Consumer Financial Protection Bureau (CFPB) settled with some of the largest credit repair companies on Monday, including Lexington Law and This action is the latest example of the CFPB cracking down on the credit repair industry. 

Credit repair companies’ settlement 

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

To continue reading this article
please register for free

This is different from signing in to your print subscription

Why am I seeing this? Find out more here

Ellen Kennedy
Personal Finance Editor,

Ellen writes and edits personal finance stories, especially on credit cards and related products. She also covers the nexus between sustainability and personal finance. She was a manager and sustainability analyst at Calvert Investments for 15 years, focusing on climate change and consumer staples. She served on the sustainability councils of several Fortune 500 companies and led corporate engagements. Before joining Calvert, Ellen was a program officer for Winrock International, managing loans to alternative energy projects in Latin America. She earned a master’s from the U.C. Berkeley in international relations and Latin America.