★ Government Action
Trump's CFPB drops Capital One consumer-protection lawsuit
CFPB DismantlingCorporate Favors
Filed February 2025$2,000,000,000
★ The Brief
What happened
In February 2025, the CFPB dismissed its lawsuit against Capital One, a Biden-era case alleging the bank misled customers about savings rates and cost them more than $2 billion in unpaid interest. Acting director Russell Vought directed the dismissal.
Who enabled it
Who benefits
Deal or steal?
Capital One had given $1 million to Trump's inaugural committee; weeks into his term, his CFPB erased a case alleging the bank shortchanged customers more than $2 billion, one of five enforcement actions it dropped that day as Vought moved to wind the agency down.
On February 27, 2025, the Consumer Financial Protection Bureau filed court documents dismissing its lawsuit against Capital One. The case, brought during the Biden administration, had alleged that Capital One misled customers into believing they were receiving higher savings interest rates, costing them more than $2 billion in unpaid interest. Capital One had denied the charges. The dismissal was announced on the same day the Senate Banking Committee held a confirmation hearing for Jonathan McKernan, Trump's nominee to lead the CFPB. The agency is currently led by acting director Russell Vought.
Actors
Who pushed it · 2Who initiated, paid, or pushed the action.
Russell VoughtAs CFPB acting director, directed the bureau to drop its lawsuit against Capital One and four other financial institutions.
Consumer Financial Protection BureauFiled court documents dismissing the Capital One lawsuit and four other active enforcement cases at the direction of acting director Russell Vought.
Beneficiaries
Who gained · 1Who stood to gain.
Capital OneHad the CFPB's $2 billion interest-underpayment lawsuit against it dismissed, eliminating a major pending legal liability.
Further reading
- ★ Government ActionFebruary 2025Trump's CFPB drops four more enforcement lawsuits in same-day sweep
- ★ Government ActionFebruary 2025CFPB drops enforcement case against TransUnion and John Danaher
- ★ Government ActionFebruary 2026Moroun lobbies Lutnick before Trump threatens Gordie Howe Bridge
- ★ Government ActionFebruary 2026Trump threatens to block Gordie Howe Bridge opening to punish Canada
- ★ Private ActionJanuary 2026Moroun donates $1M to MAGA Inc. before lobbying against rival bridge
- ★ Private ActionNovember 2025Eli Lilly pledges $27B in U.S. manufacturing under Trump