FILE PHOTO: View of an Apple logo at an Apple store in Paris, France, April 23, 2025. REUTERS/Abdul Saboor/File Photo
(Reuters) -The Consumer Financial Protection Bureau has scraped settlements with Apple and U.S. Bank that were implemented under former President Joe Biden's administration, ending oversight requirements years early, according to court filings dated earlier this month.
The moves follow efforts by President Donald Trump's administration to minimize CFPB oversight of consumer finance. The Trump administration has also quietly ended the agency's settlements with Toyota and Bank of America while also dropping almost all enforcement actions that were pending when Trump took over.The Apple settlement originated last fall when the CFPB found that the tech giant and Goldman Sachs had violated consumer protection laws for allegedly mishandling transaction disputes stemming from the Apple Credit Card and misled purchasers about whether some transactions were interest-free. The original settlement had required five years of enhanced compliance and cooperation.
