1. What is the CFPB and why did the Company enter a Consent Order with it?
The CFPB is the Consumer Financial Protection Bureau, one of many government agencies that regulate lenders and financial services providers like OneMain. OneMain has an established track record of good-faith cooperation with all government regulators.
The Company has been cooperating with the CFPB to review how the Company handles refunds of interest for certain optional products that customers purchased, but later canceled within the first 30 days. The Consent Order is the agreement OneMain reached with the CFPB to avoid litigation and focus on providing our customers industry-leading service.
For more information about the Consent Order, please see our press release here.
2. What does the Consent Order mean to me as a customer?
The Consent Order has no impact on our ability to provide access to responsible credit to our customers. We will continue to make loans and offer optional products as we always have.
- Less than one percent of our customers over the last four years will be eligible for a refund of interest under the Consent Order.
- No action is needed on your part. We will contact you if you are eligible.
For more information about the Consent Order, please see our press release here.
3. How do I know if I am eligible for a refund of interest under the Consent Order?
No action is needed on your part. We will contact you if you are eligible.
4. Where can I find more information?
You can find more information on the Consent Decree in our press release here. You may also contact our Executive Office of Customer Care at 888-864-0332 or via email at Executive.CustomerCare@omf.com.