The Consumer Financial Protection Agency filed a lawsuit against the peer-to-peer payment system Zelle, the latest lawsuit in which the department’s president Donald Trump administration was fired. The agency has just announced a lawsuit – a lawsuit filed against Zelle’s operating entity early warning service and partner banks JPMORGAN CHASE, Bank of America and Wells Fargo. According to the initial action, the CFPB said that in the seven years of Zelle, the three banks lost more than $870 million in customers.
CFPB has taken several measures against financial products provided by the technology company’s previous director Rohit Chopra. However, the agency is now supervised by acting director Russell Vought, who ordered the CFPB to conduct all “oversight and examination activities” last month. Although the bureau’s employees must try to keep the CFPB alive, the status of government leadership remains.
Since taking office, Trump and ally Ally Elon Musk have taken comprehensive action to control and shut down federal government departments. Historically, Musk’s agency for business activities has been a reduced authority, and so has federal business.
