The Consumer Finance Protection Bureau has dropped several enforcement actions against companies like Capital One and Rocket Homes, just weeks under new leadership and turmoil at the agency caused by orders from Trump administration.
In voluntary dismissals filed on Thursday, the CFPB dropped lawsuits it had brought against Capital One, Rocket Homes, Vanderbilt Mortgage and Finance, owned by Warren Buffett’s Berkshire Hathaway, and more.
In a statement Thursday, Rocket Homes welcomed its dismissal and said “it is good to see the truth come to light” — calling the suit “an empty claim brought forth by former CFPB director Chopra for the sole purpose of seeing his name in headlines during the final days in public office.”.
Trump has defended his administration’s broadside against the CFPB — including recent claims about the agency being “set up to destroy people.” He's nominated former Federal Deposit Insurance Corporation board member Jonathan McKernan to be agency’s new director, who faced a Senate committee hearing Thursday.
And the CFPB's December complaint against Rocket Homes alleged a “kickback scheme” from the company to illegally steer prospective borrowers to Rocket Mortgage, which operates under the same parent company, and away from other competitors.
