CFPB, DOJ Oppose State AG Settlement Funds Proposal
May 22, 2017
The CFPB and the Department of Justice have separately filed motions opposing a proposal from a handful of state attorneys general to take $15.14 million of unused settlement funds from the bureau’s $50 million enforcement action against Sprint and instead redirect it to two other purposes. The AGs of Connecticut, Indiana, Kansas and Vermont recently proposed taking $14.0 million of the unused money from the U.S. Treasury, which could receive it under the terms of the redress plan, and instead giving it to the National Association of Attorneys General to establish a National Attorneys General Training and Research Institute Center for Consumer Protection. The AGs also want to repurpose the remaining unspent amount, $1.14 million, and give it to a ...