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US CFPB dropping four enforcement cases as McKernan testifies, Sen. Warren says

( February 27, 2025, 19:49 GMT | Official Statement) -- MLex Summary:  US Senator Elizabeth Warren, the top Democrat on the Senate Banking Committee, said during a confirmation hearing for Jonathan McKernan, the nominee for US Consumer Financial Protection Bureau director, that four enforcement cases have just been dropped. “[This] announcement is designed to embarrass you and to show exactly who is in charge of this agency right now: Elon Musk and his little band of hackers,” she said. The dropped cases include one against Capital One for an alleged scheme cheating millions of consumers out of more than $2 billion in interest rates on savings accounts, the Massachusetts senator said.Document follows:...

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