The U.S. Consumer Financial Protection Bureau (CFPB) has abruptly dropped its enforcement case against credit bureau TransUnion, marking yet another instance of the agency dismantling regulatory actions against financial firms accused of exploiting consumers.
The decision, spearheaded by acting CFPB director Russell Vought, comes as part of a sweeping rollback of cases initiated under the previous leadership. While TransUnion is now off the hook, the agency has opted to continue pursuing fintech lender MoneyLion over allegations of predatory lending practices targeting military service members.
The now-dismissed case against TransUnion stemmed from accusations that the company and executive John Danaher had flouted a 2017 order aimed at curbing deceptive marketing tactics. Alongside TransUnion, the agency also withdrew five other enforcement actions, including one against banking giant Capital One.
The CFPB has now scrapped seven enforcement actions in total—a drastic shift since former director Rohit Chopra was ousted last month. The move has fueled speculation about the future of the agency itself, with former President Donald Trump openly stating his intent to dismantle it. Though CFPB officials maintain that the bureau will continue in a “streamlined” form, internal accounts suggest discussions of an outright shutdown are already underway.
None of the companies involved have issued public statements regarding the dropped cases, and MoneyLion has continued to deny the charges it still faces. Meanwhile, critics argue that the agency’s recent actions reflect a broader effort to weaken consumer protections in favor of corporate interests.
