US CFPB drops enforcement action against Capital One
ReutersFeb 27, 2025 4:06 PM
Feb 27 (Reuters) - The U.S. Consumer Financial Protection Bureau on Thursday dropped a legal action against Capital One COF.N, which the agency had accused last month of cheating consumers out of more than $2 billion in interest payments on savings accounts.
The dismissal continues President Donald Trump's rapid moves to dismantle the agency, which he has said should be eliminated, but came the same day as his nominee to head the CFPB, Jonathan McKernan, testified before the Senate in a confirmation hearing.
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