Overview

• Termination notices on the CFPB’s website release Apple and U.S. Bancorp from multi‑year compliance monitoring well ahead of schedule.
• Apple’s October 2024 settlement included a $25 million penalty and a five‑year monitor that ended in under a year, while U.S. Bank’s five‑year monitoring tied to its 2023 case was also cut short.
• The bureau provided no explanation for voiding the remaining oversight in the termination orders, which state only that it has authority to do so.
• American Banker reports the CFPB has dropped or withdrawn dozens of cases and brought only two new enforcement actions this year, a shift employees link to shrinking resources and potential layoffs after Congress cut funding nearly in half in July.
• Recent closures also include actions against Navy Federal and Toyota Motor Credit that avoided over $120 million in customer refunds, while Goldman Sachs remains under a separate Apple Card enforcement order.