CFPB dropped its Capital One savings-account investigation under Vought
Ending the probe removed potential restitution or penalties for customers allegedly denied higher interest rates.
Entities and roles
- Russell VoughtTrump-appointed OMB director and acting CFPB director
- Elon MuskTrump-appointed senior adviser who led DOGE work
- Capital One Financial Corporationbank benefiting from termination of a CFPB matter
- Donald J. Trumppresident authorizing the administration action
Relationships in this file
- Russell Voughtended the active consumer-protection case involving Capital OneCapital One Financial Corporation
- Donald J. TrumpTrump-appointed senior adviser who led DOGE workElon Musk
- Donald J. TrumpTrump-appointed OMB director and acting CFPB directorRussell Vought
Money trail
lossInterest allegedly withheld from Capital One customersmore than $2 billion - Reported loss source
- Capital One savings customers
- Reported gain recipient
- Capital One
- Loss or cost borne by
- Affected savings-account customers
Claims and evidence
- allegationdismissed
ProPublica reported that the CFPB under Vought dropped its case accusing Capital One of misleading savings customers and withholding more than $2 billion in interest, ending the bureau's effort to obtain relief; Capital One disputed the allegations.
- ProPublica: Fend for Yourself: Under Trump, Consumer Protection Bureau's Probes of Big Tech and Finance Firms Freeze UpPassages and source records documenting: CFPB dropped its Capital One savings-account investigation under Vought
- factdocumented
Elon Musk was the Trump-appointed senior adviser who led DOGE work.
- The White House: President Trump participates in a press conference with departing DOGE adviser Elon MuskAppointment or biography record identifying Elon Musk as Trump-appointed senior adviser who led DOGE work
- factdocumented
Russell Vought was the Trump-appointed OMB director and acting CFPB director.
- United States Senate: Roll Call Vote 37: Confirmation of Russell VoughtAppointment or biography record identifying Russell Vought as Trump-appointed OMB director and acting CFPB director