We can’t say if there is any cause and effect here, but less than 24 hours after our column on the absurdity of the government’s lawsuit against the popular money transfer company Zelle hit the newsstands, the Trump Administration followed our advice and dismissed the suit.
Monday we suggested dropping the lawsuit:
Tuesday Trump dropped the lawsuit:
The complaint brought by Biden’s Consumer Finance Protection Bureau never made any sense . Zelle’s popular and hassle-free service – used by more than 100 million Americans to electronically transfer $1 trillion last year – is provided at virtually no cost. But trial lawyers were drooling for a jackpot settlement because of a small fraction of the money lost to fraudsters. Bravo to Russ Vought – the temporary head of the CFPB – for allowing common sense to prevail.
How can a free service that keeps attracting more customers every year be anti-consumer?