The decision to drop the case comes as the CFPB, now led by White House budget director Russell Vought, has dropped multiple enforcement actions and faces internal upheaval over mass firings.

It had accused Zelle's operator and owner banks of failing to adequately investigate fraud and refusing to reimburse victims.

The Consumer Financial Protection Bureau dropped its case Tuesday against the peer-to-peer payment network along with Charlotte-based Bank of America and Wells Fargo, which has its largest employment hub in the city. JPMorgan Chase was also named in the lawsuit filed in December.