It's hard to describe whats really happening at the CFPB but news just broke from Reuters that they are dropping the lawsuit against the three major banks for failing to protect consumers from fraud costing hundreds of millions of dollars without more specific details. This is the most recent of cases dropped, and some would call it being pardoned, given the orders from the Trump administration to reduce operations, staff, and functions.
We will keep up to date on all things happening at the CFPB but things are certainly unpredictable as of now. A lot of companies are getting away with possible violations and cheering this while others are wondering whos going to hold anyone accountable for actions that affect every consumers and small businesses.
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