The Consumer Financial Protection Bureau on Thursday dropped five major legal cases it had underway — including a big lawsuit against Capital One — marking a major reversal for an agency that had pursued aggressive action against financial institutions accused of wrongdoing during the Biden administration.

Days before President Trump was inaugurated, the Consumer Financial Protection Bureau sued Capital One, accusing it of using deceptive tactics that the bureau said cheated customers out of $2 billion in interest payments on their savings accounts.

The Consumer Financial Protection Bureau on Thursday dismissed a trio of enforcement lawsuits undertaken by the previous administration's director. In legal filings, the CFPB issued a notice of voluntary dismissal for cases involving Capital One,

The consumer watchdog has dropped one of its last cases launched before the current Trump administration, which has been accused of trying to defang the agency.

President Trump’s nominee to lead the Consumer Financial Protection Bureau said he still planned to fulfill the agency’s mandate.

The consumer protection watchdog had previously launched a legal action accusing the bank of misleading customers on the interest rates it offers on savings accounts.

The Consumer Financial Protection Bureau voluntarily dismissed a lawsuit against Capital One brought under the Biden administration alleging the bank failed to honor interest rate promises, costing consumers an estimated $2 billion.

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.

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