The CFPB Works To Ensure Bilt Consumers Are Made Whole

From the official Consumer Financial Protection Bureau release

The CFPB has been working to ensure consumers affected by Bilt’s transition to a new bank partner are appropriately remedied. CFPB officials met with Bilt to understand the issues caused by the transition and what steps Bilt has taken to ensure customers affected by challenges with the transition were made whole.

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Following our discussions and at our direction that Bilt ensures full redress, Bilt notified the CFPB that they proactively reached out to the limited number of potentially-affected customers and offered to reimburse them for any overdraft fees, late fees, or insufficient funds fees related to the transition.

The CFPB has also discussed with Bilt the steps it has taken to guarantee that all transition-related technical issues have been resolved, and Bilt’s documentation submitted to the CFPB appears to show that it has completed the process and its systems are back on track.