The politics of the new Trump era just got a lot more complicated for Capital One (COF). The huge bank and credit card lender now finds itself in the position of having to defend itself against a new lawsuit from a company owned by President Donald Trump while also seeking a big merger approval from Trump’s antitrust enforcers.
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The move, on a suit that had accused the bank of tricking customers, was one of several dismissals ordered by Trump officials who are dismantling the agency.
The dismissals occurred while Trump’s nominee to head the CFPB, Jonathan McKernan, was on Capitol Hill testifying before the Senate in a confirmation hearing.
The Consumer Financial Protection Bureau (CFPB) has officially dismissed its enforcement action against Capital One Bank, which had been accused of cheatin