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 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 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.