Russell Vought, director of the Office of Management and Budget (OMB) nominee for US President Donald Trump, during a Senate Budget Committee confirmation hearing in Washington, DC, US, on Wednesday, Jan. 22, 2025.
Al Drago | Bloomberg | Getty Images
The Consumer Financial Protection Bureau‘s new leadership on Thursday dismissed at least four enforcement lawsuits undertaken by the previous administration’s director.
In legal filings, the CFPB issued a notice of voluntary dismissal for cases involving Capital One; Berkshire Hathaway-owned Vanderbilt Mortgage & Finance; a Rocket Cos. unit called Rocket Homes Real Estate; and a loan servicer named Pennsylvania Higher Education Assistance Agency.
“The Plaintiff, the Consumer Financial Protection Bureau, dismisses with prejudice this action against all Defendants,” the agency said in a brief filing in the Capital One case. It used similar language in the other cases.
The moves are the latest sign of the abrupt shift at the agency since acting CFPB director Russell Vought took over this month. In conjunction with Elon Musk’s Department of Government Efficiency, the CFPB has shuttered its Washington headquarters, fired about 200 employees and told those who remain to stop nearly all work.
The filings began appearing at the same that time senators were grilling Jonathan McKernan, President Trump’s pick to lead the CFPB on a permanent basis.
Current and former CFPB employees have told CNBC that legal cases with upcoming docket dates would likely be dismissed as the agency disavows most of what previous director Rohit Chopra has done.
That began on Friday, when the agency dismissed its case against SoLo Funds, a fintech lender it accused of gouging customers.
This story is developing. Please check back for updates.
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