CFPB moves to drop suit accusing Capital One of cheating customers out of $2 billion

The Consumer Financial Protection Bureau has moved to drop a suit against Capital One, accusing the bank of cheating customers out of $2 billion, with a court filing seeking to dismiss the suit with prejudice. Capital One welcomed the decision, while former CFPB Director Rohit Chopra had brought the suit, and Capital One had denied the allegations. The move comes amidst a broader trend of the agency scaling back Biden-era actions under the Trump administration, with ongoing debates about the agency’s future and Trump officials calling for its dismantling.

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