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Russell Wuts, Director of the Office of Management and Budget (OMB) for President Donald Trump during hearings on the confirmation of the Senate budget Committee in Washington, Colombia District, Wednesday, January 22, 2025.
Al Drago | Bloomberg | Gets the image
A Bureau for Financial Protection ConsumersOn Thursday, the new leadership rejected at least four lawsuits on forced execution of the director of the previous administration.
In CFPB’s legal statements, he made a message about voluntary dismissal on participation Capital One; Berkshire Hathaway owned by Vanderbilt & Finance mortgage; a COS missile. A unit called Rocket Homes Real Estate; and specified loan service Pennsylvania Agency for Higher Education.
“The plaintiff, the Consumer Financial Protection Bureau, releases the case against all the defendants,” the agency said Case of capital one. In other cases, he used a similar language.
Moves – the last sign of a sharp change in the agency after acting director CFPB Russell Uc He took this month. In combination with Elon MuskCFPB closed the headquarters in Washington, fired about 200 employees and told those who remain stopped Almost all the work.
Under the former director Rokhite ChopraCFPB has accused Capital of one of the buyers with more than $ 2 billion; It states that Vanderberet ignored the signs that customers could not afford their mortgage loans; He accused the missile of providing illegal real estate agents; and it states that service loan Pennsylvania Agency for Higher Education Incorrectly collected loans.
The press secretary of the capital One said that the bank welcomed the dismissal of its case, which it “strongly disputed”.
The Rocket spokeswoman also praised the news: “Missile houses have always linked buyers with the highest agents based only on objective criteria, such as how well they helped buyers at home achieve their dreams of home. We are proud to put this business behind us.”
Capital One and Rocket shares rose after firing.
Lost billions
The current and former CFPB staff said CNBC that legal cases with upcoming Docket dots are likely to be rejected if the agency excludes most of what Chopra has done.
It started at the end of last week when the agency rejected its case against Solo remediesFintech’s lender that has previously been accused of combating customers.
Eric Halperin, a former head of the CFPB law enforcement agency, said in a telephone interview on Thursday that the bureau was unprecedented in the history of the bureau.
“So far, this administration has been rejected by five cases, while in the history of the bureau there was only one other thing that was rejected without relief for any consumers,” Galperin said.
Friday also CFPB dive him undertaking Against Transunion, which accused the credit agency of violating the 2017 order related to credit instruments company consumers.
“We are satisfied with the dismissal of this case, which reflects our long-term view of the facts and our permanent work to support consumers,” TRANSUNION spokesman wrote in a CNBC statement.
Since recent cases were rejected by prejudice, CFPB has never made these claims, disabled the possibility of shutting off the funds to facilitate consumers, Galperin added.
“Only from the cases that have been fired today, billions of dollars are inflicted in the detriment of consumers that CFPB will never be able to return to consumers,” he said.
“Embarrassment
Submission on Thursday began to appear simultaneously when the senators roasted Jonathan McCain, president Donald TrumpDuring the nomination, the CFPB is constantly selected.
“Mr. McCainan, literally, when you were sitting here and you talked about the importance of implementing the law, we get news that CFPB refuses to laws against companies that cheat on American families, or allegedly cheating on American families,” Senator Elizabeth Warren, D-Mass. – Note.
“It seems to me the terms of this ad is designed for discourage yousaid Warren.
