The CFPB drops its enforcement lawsuits against Capital One, Rocket Homes and more
Earlier DU thread: US consumer watchdog drops case against Capital One over cheating customers -- The Guardian
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Source: Associated Press
The CFPB drops its enforcement lawsuits against Capital One, Rocket Homes and more
WYATTE GRANTHAM-PHILIPS
Thu, February 27, 2025 at 2:32 PM EST 3 min read
NEW YORK (AP) — The Consumer Finance Protection Bureau has dropped several enforcement actions against companies like Capital One and Rocket Homes, just weeks under new leadership and turmoil at the agency caused by orders from Trump administration.
In notices of voluntary dismissals filed on Thursday, the CFPB dropped lawsuits it had brought against Capital One, Rocket Homes, Vanderbilt Mortgage and Finance, owned by Warren Buffett’s Berkshire Hathaway, and others.
Those suits were all filed under the agency's previous director, Rohit Chopra, who President Donald Trump fired just weeks ago. The CPFB has since plunged into turmoil — with the White House later ordering it to halt nearly work. The administration also closed the agency's headquarters and moved to fire scores of its workers.
Trump has defended his administration’s broadside against the CFPB — including recent claims about the agency being “set up to destroy people.” But supporters of the agency stress that it provides crucial oversight and protects consumers from being vulnerable to predatory business practices.
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Read more: https://finance.yahoo.com/news/cfpb-drops-enforcement-lawsuits-against-193246597.html
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