The move, on a suit that had accused the bank of tricking customers, was one of several dismissals ordered by Trump officials who are dismantling the agency.
Days before President Trump was inaugurated, the Consumer Financial Protection Bureau sued Capital One, accusing it of using deceptive tactics that the bureau said cheated customers out of $2 billion in interest payments on their savings accounts.
On Thursday, the bureau abandoned that lawsuit and permanently waived its legal right to ever again pursue the claim.
Russell Vought, the director of the White House budget office, has moved swiftly to close the consumer bureau’s offices and decimate the agency since he took control this month as its acting director. The bureau’s staff has been on administrative leave for weeks, barred from engaging in virtually any work, including representing the bureau in dozens of ongoing legal actions.
Mark Paoletta, brought in by Mr. Vought as the agency’s chief legal officer, quickly ended several of those cases. On Thursday, the agency also dropped litigation against the Pennsylvania Higher Education Assistance Agency for student loan servicing failures; against Rocket Homes Real Estate for what the bureau called a kickbacks scheme; against Heights Finance for cycling struggling borrowers into successive loans that repeatedly incur refinancing fees; and against Vanderbilt Mortgage and Finance, owned by Berkshire Hathaway, for making mortgage loans to consumers who it knew could not afford to repay them.
Last week, the bureau abandoned a case against SoLo Funds, an online lender, for camouflaging fees on its loans, costing consumers more than $20 million. Days later, Mr. Vought called the company “innovative” in a social media post.
“More to come,” he wrote. “The weaponization of ‘consumer protection’ must end.”
Representatives of the consumer bureau did not respond to requests for comment on Thursday about the dropped lawsuits.