Real Estate & Home

CFPB works with Bilt on redress after Wells Fargo transition

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CFPB directed Bilt Rewards to provide full redress to customers who incurred financial harm during its transition away from Wells Fargo. This highlights the regulatory risks inherent in migrating financial partnerships and the importance of robust customer service during technical shifts. Fintech professionals should expect the agency to continue using its revised enforcement strategy, which emphasizes rapid consumer compensation and collaborative remediation over traditional litigation.

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