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The rule will allow CFPB to distribute funds to victims in a "transparent, responsible way," Cordray said.

CFPB Clarifies How it Will Use Civil Penalty Fund

by Rachel Witkowski
APR 26, 2013 4:29pm ET
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The agency issued a rule Friday attempting to clarify how it would use its Civil Penalty Fund, which holds money it collects as a result of fines against financial companies.

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