The Consumer Financial Protection Bureau (CFPB) today dismissed a lawsuit against Early Warning Services, the company that runs the Venmo-like Zelle payment platform, as well as the three banks that share ownership of it, reports CNBC.The CFPB, which enforces regulations against the financial services industry, had claimed in its December 2024 lawsuit that the organizations had not effectively protected Zelle users from widespread fraud, causing customers of Bank of America, JPMorgan Chase, and Wells Fargo to lose a combined $870 million since Zelle launched in 2017.The regulators filing says it is dismissing its court case with prejudice, meaning that it cant bring its claims again. Eric Halperin, the CFPBs former head of enforcement, told CNBC that doing so also means theres no way of clawing back funds for consumer relief. Representatives from Zelle, JPMorgan, and the Consumer Bankers Association each praised the ruling in statements to the outlet.President Donald Trumps administration, including Elon Musks Department of Government Efficiency (DOGE), have pushed hard to effectively shut down the CFPB. The agency has only published one enforcement action since President Donald Trumps inauguration, and under acting Director Russell Vought its dropped several cases that were brought by its Biden-era leader, Rohit Chopra. Agency employees are currently fighting in court to halt the move, alleging theyve been prevented from carrying out legally mandated duties including responding to urgent consumer complaints.