The CFPB drops its lawsuit against Capital One, marking a major reversal
The Consumer Financial Protection Bureau on Thursday dropped five major legal cases it had underway — including a big lawsuit against Capital One — marking a major reversal for an agency that had pursued aggressive action against financial institutions accused of wrongdoing during the Biden administration.
Capital One customers hoping for restitution following allegations of interest payment discrepancies may be disappointed.
The move came as Jonathan McKernan, nominated to head the CFPB, testified before the Senate during his confirmation hearing.
Sen. Tina Smith (D-Minn.) pressed President Trump’s nominee to lead the Consumer Financial Protection Bureau (CFPB) over who ...
Warren and other Democrats have fumed over Trump administration moves to cripple the consumer bureau, which has long been a ...
The once-fierce watchdog is dropping consumer cases against companies and processing far fewer complaints.
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