The Consumer Financial Protection Bureau is dropping its lawsuit against the company that runs the Zelle payment platform and three U.S. banks as federal agencies continue to pull back on previous enf

The CFPB has dropped a lawsuit accusing Zelle and its bank backers of failing to clamp down on fraud. It's Trump administration's latest move to drop enforcement actions.

A spokeswoman for the payment app’s parent company said the lawsuit against three large banks was “without merit, and legally and factually flawed.”

The Consumer Financial Protection Bureau has dismissed its lawsuit against Zelle's operator and its owner banks.

The dismissal comes less than a week after the CFPB dropped several enforcement actions against companies like Capital One and Rocket Homes.