US consumer watchdog cases in limbo following agency’s idling

The Trump administration’s idling of the Consumer Financial Protection Bureau (CFPB) left in limbo significant cases the agency brought against companies and large financial firms in the waning days of President Joe Biden’s time in office.

The CFPB in January sued Capital One, accusing the bank of illegally cheating consumers holding its flagship “high interest” savings account out of more than $2 billion by freezing their rate.

In December, the agency sued the likes of Walmart and big banks including JPMorgan Chase, Bank of America and Wells Fargo. The agency accused Walmart and a workforce payments company of forcing delivery drivers into using accounts that cost them more than $10 million in “junk fees.”

Mike Spector & Douglas Gillison | Yahoo Finance

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