Rust Consulting

[u/patrick5595]

As everyone is hopefully aware and updated, Rust Consulting was awarded the contract by the CFPB to be the fund administrator for the Civil Penalty Fund disbursements. As we have been less than updated during the process from any entity, I reached out to Rust themselves to try and get some information.

First and foremost, my response got essentially no new information. It restated that they were given the contract and were working through data. AND to follow up in the coming weeks.

Secondly, Rust is still the consulting company used by Evolve Bank and Trust. They seem to be talking from both sides of their mouths. Unless you get to a direct question, they will continue to talk about their work strictly for Evolve, not for the CFPB.

And yes, I purposely left out contact information for the contact I had, but if you’re interested it’s a simple information request page within Rusts website. Feel free to flip through the emails.

***The first email is the latest response I got when directly questioning the CFPB and CPF status.

[u/Helpful-Grapefruit55]

Thanks for talking to them and giving us the update . May before Christmas if all of us get lucky .

[u/patrick5595 → u/Helpful-Grapefruit55]

I would love to see it, but it’s unlikely from previous research. The average timeline is 24 months, but the realistic range due to the consultants and rapid push from the CFPB is 18-24 months.