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CFPB drops Zelle lawsuit in latest reversal under Trump administration

The Consumer Financial Protection Bureau has dropped its lawsuit over peer-to-peer payment system Zelle.

The Consumer Financial Protection Bureau has dropped its lawsuit over peer-to-peer payment system Zelle, the latest in a series of dismissals from this department under President Donald Trump's administration. The CFPB made several moves to increase oversight on the financial products offered by tech companies under its previous director, Rohit Chopra. Agencies that have historically regulated Musk's business activities have been among those with reduced powers, as have federal operations for cybersecurity, digital services and personnel management.

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