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 enforcement actions now that President Donald Trump is back in office.

The Consumer Financial Protection Bureau (CFPB) dropped its suit against JPMorgan Chase (JPM), Bank of America (BAC), and Wells Fargo (WFC) on Tuesday over their handling of fraud on the peer-to-peer payments network Zelle.

The U.S. Consumer Financial Protection Bureau told a federal court on Tuesday it was dropping a lawsuit filed in December against three of the nation's largest banks over their handling of the payment service Zelle,

The Consumer Financial Protection Bureau late Tuesday dropped its lawsuit against Early Warning Services LLC, operator of the Zelle person-to-person payments network. The suit had also named Bank of America, JPMorgan Chase, and Wells Fargo as defendants. The financial institutions are three of the seven bank owners of Early Warning.

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.

The Consumer Financial Protection Bureau dismissed on Tuesday its lawsuit against the the Zelle payment network and three of the banks that control it, JPMorgan Chase (JPM), Bank of America (BAC), and Wells Fargo (WFC),

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 US Consumer Financial Protection Bureau (CFPB) has reportedly notified a federal court in Arizona that it is dismissing the lawsuit lodged in December against three banks over their management of the Zelle payment service.