WASHINGTON—The CFPB has dismissed its lawsuit against Capital One Financial, which accused the bank of denying long-standing customers more than $2 billion in interest by failing to extend high rates offered to new customers, American Banker reported.
The CFPB voluntarily withdrew its lawsuit against Capital One without prejudice in an online filing. The case, originally filed in January under former CFPB Director Rohit Chopra, has now been dismissed, American Banker said.
The CFPB also dropped lawsuits against the Pennsylvania Higher Education Assistance Agency, Rocket Homes and Vanderbilt Mortgage and Finance, American Banker added.