CFPB Halts Crackdown on Capital One, Other Financial Giants in Enforcement Rollback

The Consumer Financial Protection Bureau (CFPB) has dropped at least four enforcement lawsuits brought by the consumer watchdog agency’s previous leadership, court filings show. According to filings made on Feb. 27 in multiple federal courts, the CFPB has voluntarily dismissed its cases against Capital One Financial Corporation, Vanderbilt Mortgage and Finance, Rocket Homes Real Estate LLC, and the Pennsylvania Higher Education Assistance Agency. Each one of the dismissals was with prejudice, preventing the agency from refiling these cases in the future. The moves hint at a significant rollback of enforcement actions pursued under the Biden administration, which championed a robust CFPB to tackle financial industry excesses and shield consumers from predatory practices....