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.Spanky Drops 5 Consumer Watchdog Cases, Including Capital OneFebruary 28, 2025.The U.S. Consumer Financial Protection Bureau on Thursday dropped five enforcement actions against financial services companies accused of wrongdoing under the prior administration, including a major case against Capital One, opens new tab..The unprecedented mass dismissals eviscerated much of the watchdog agency's remaining stable of legal actions against financial services companies investigated for abusive and predatory practices..The agency dropped the case against Capital One after accusing the bank last month of illegally cheating customers out of more than $2 Billion in interest payments..It also dismissed on Thursday a lawsuit brought last year against the student loan servicer Pennsylvania Higher Education Assistance Agency (PHEAA), accused of illegally collecting on student loans discharged in bankruptcy..It also dropped cases against Rocket Homes, which the agency in December charged with resorting to illegal kickbacks in a mortgage scheme, and Heights Finance, an installment lender officials had accused of illegal "loan churning" to generate hundreds of millions in fees and added costs.".
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Spanky Drops 5 Consumer Watchdog Cases, Including Capital One
February 28, 2025
The U.S. Consumer Financial Protection Bureau on Thursday dropped five enforcement actions against financial services companies accused of wrongdoing under the prior administration, including a major case against Capital One, opens new tab.
The unprecedented mass dismissals eviscerated much of the watchdog agency's remaining stable of legal actions against financial services companies investigated for abusive and predatory practices.
The agency dropped the case against Capital One after accusing the bank last month of illegally cheating customers out of more than $2 Billion in interest payments.
It also dismissed on Thursday a lawsuit brought last year against the student loan servicer Pennsylvania Higher Education Assistance Agency (PHEAA), accused of illegally collecting on student loans discharged in bankruptcy.
It also dropped cases against Rocket Homes, which the agency in December charged with resorting to illegal kickbacks in a mortgage scheme, and Heights Finance, an installment lender officials had accused of illegal "loan churning" to generate hundreds of millions in fees and added costs."
