CFPB Report: 2014-AE-C-001 January 16, 2014
| Date | Event |
|---|---|
| July 21, 2010 | Dodd-Frank Act enacted |
| July 21, 2011 | CFPB designated transfer date; CPF allocation period 1 began |
| June 11, 2012 | Criteria for Use of Civil Penalty Fund Monies for Consumer Education and Financial Literacy Programs approved |
| July 17, 2012 | Consumer Financial Civil Penalty Fund Governance Board Charter approved |
| July 18, 2012 | Capital One deposited $25 million into the CPF |
| September 28, 2012 | Discover Credit Card Company deposited $7 million into the CPF |
| October 1, 2012 | American Express directed three subsidiaries to deposit a total of $14.1 million into the CPF |
| November 15, 2012 | FY 2012 CFPB Financial Report posted; the report describes the CPF and identifies FY 2012 CPF collections |
| November 19, 2012 | CFPB Director approved two consumer education and financial literacy program concepts to be funded with CPF monies if sufficient funds are allocated |
| December 15, 2012 | FY 2012 4th Quarter CFO Update posted; the report identifies FY 2012 Q4 CPF collections |
| December 28, 2012 | Payday Loan Debt Solution deposited $5,000 into the CPF |
| February 15, 2013 | FY 2013 1st Quarter CFO Update posted; the report identifies FY 2013 Q1 CPF collections |
| February 26, 2013 | Abraham Pessar (Gordon, et Al.), deposited $1 into the CPF |
| March 31, 2013 | CPF allocation period 1 ended |
| April 1, 2013 | CPF allocation period 2 began |
| April 11, 2013 | United Guaranty deposited $4.5 million into the CPF |
| April 15, 2013 | Genworth deposited $4.5 million into the CPF |
| April 16, 2013 | Mortgage Guaranty Inc., deposited $2.65 million into the CPF |
| April 25, 2013 | Procedures for Civil Penalty Fund Administration approved |
| April 26, 2013 | CFPB posted the following on www.consumerfinance.gov: Civil Penalty Fund rule, CPF FAQs, CPF blog, and CPF press release |
| April 29, 2013 | Radian Guaranty, Inc. deposited $3.75 million into the CPF |
| May 7, 2013 | CPF rule published in the Federal Register and entered into effecta |
| May 7, 2013 | CFPB posted CPF allocation schedulea |
| May 15, 2013 | FY 2013 2nd Quarter CFO Update posted; the report identifies FY 2013 Q1 & Q2 CPF collections |
| May 30, 2013 | First CPF allocation made (see attachment B) |
| June 6, 2013 | CFPB's "Frequently Asked Questions on the CPF" updated |
| June 12, 2013 | American Debt Settlement Solutions, Inc., deposited $15,000 into the CPF |
| July 8, 2013 | Comments on the CPF rule due |
| July 9, 2013 | CFPB awarded contracts to two third-party payment administrators |
| July 19, 2013 | CFPB "Frequently Asked Questions on the CPF"a updated |
| August 8, 2013 | Consumer Financial Civil Penalty Fund Governance Board Charter update approved |
| August 8, 2013 | CFPB’s Policy for Selecting Civil Penalty Fund Consumer Education and Financial Literacy (CEFL) Programs issued |
| August 15, 2013 | FY 2013 3rd Quarter CFO Update posted; the report identifies FY 2013 Q1, Q2, & Q3 CPF collections |
| August 28, 2013 | CFPB’s presolicitation conference for one of the CEFL programs held |
| September 19, 2013 | JPMorgan Chase deposited $20 million into the CPF |
| September 30, 2013 | CPF allocation period 2 ended |
| October 1, 2013 | CPF allocation period 3 began |
| October 11, 2013 | Washington Federal deposited $34,000 into the CPF |
| October 15, 2013 | Mortgage Master deposited $425,000 into the CPF |
| November 13, 2013 | Castle & Cooke Mortgage deposited $4 million into the CPF |
| November 22, 2013 | Request for proposal issued for a CPF-funded CEFL released |
| November 25, 2013 | Cash America deposited $5 million into the CPF |
| November 26, 2013 | Meracord deposited $555,000 into the CPF |
| November 29, 2013 | Second CPF allocation made |
Source: OIG analysis and CFPB input.
a. Information available on the CFPB's public website. Return to text
