Consumer Bureau Action Tracker

CFPB – Navy Federal Credit Union




Navy Federal Credit Union


Enforcement, Debt Collection, Credit Unions, Civil Penalty Fund, Servicemembers

The CFPB fined Navy Federal Credit Union $28.5 million alleging that they made “‘false threats’ about debt collection to its members.” The “shady debt collection activities” included “disable[ing] [access] for about 700,000 accounts” and that they “falsely threatened to contact commanding officers to pressure servicemembers to repay.” For these customers, consumer debt problems could have led to losing security clearances or other disciplinary action. “About 200,000 customers will split the $23 million, making the average payout about $115.”

  • The complaint also alleged that Navy Federal “falsely threatened to contact commanding officers to pressure servicemembers to repay: For members of the military, consumer credit problems can result in disciplinary proceedings or lead to revocation of a security clearance.” [WTKR Web Staff, “Navy Federal Credit Union to pay $23 million to misled customers”, CBS 3 WTKR, 10/12/16]


Inactive or Resolved

2016-CFPB-0024 10/11/2016 10/11/2016

CFPB Orders Navy Federal Credit Union to Pay $28.5 Million for Improper Debt Collection Actions

  • Consumer Financial Protection Bureau (CFPB)
  • Administrative filing
  • None
  • Bank
  • $28,500,000
  • 200,000



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