What Southwest Airways is altering, from bag charges to fundamental economic system

A Southwest Airlines Boeing 737 MAX is pushed back from the gate at San Diego International Airport in San Diego, Aug. 24, 2024.

Kevin Carter | Getty Images

Southwest Airlines announced Tuesday what was once unthinkable: it will start charging customers to check their luggage.

It’s a $300 million gamble. Last year, Southwest said its “rigorous research” found it would lose that much in market share if it started charging bag fees. The policy has set Southwest apart from its competitors for decades.

Getting rid of its famous “two bags fly free” strategy is part of a massive push at the carrier to ditch its long-standing customer perks and policies. Southwest also announced last year that it’s moving from open seating to a single-class cabin in order to raise revenue. Another change announced Tuesday: basic economy tickets that don’t allow free changes.

Here’s what travelers need to know about the new policies:

Who will pay for bags?

Travelers who buy any ticket except Southwest’s top-level Business Select fare will have to pay fees to check bags. Customers who purchase a Business Select ticket will be able to check two bags for free.

Top-tier A-List Preferred frequent flyer program members will also get two checked bags for free. A-List level members will be able to check one bag for free, as will those with a Southwest credit card.

How much will it cost to check a bag?

Southwest didn’t disclose how much it will cost to check a bag, but fees start at $35 apiece on competitors Delta, United and American.

When do the new policies take effect?

The new checked baggage fees go into effect for tickets purchased on or after May 28.

Can I still bring a carry-on bag?

Carry-on bag policies haven’t changed, even for basic economy tickets.

All tickets will include a free carry-on bag, even for the new basic economy tickets.

Read more CNBC airline news

But won’t everyone else bring a carry-on bag, too?

Southwest told employees on Tuesday, just after the announcement, that customers will “undoubtedly carry on more luggage than before” so it’s taking a few steps to try to keep things moving.

Gate agents will get mobile bag-tag printers “reducing the need for string bag tags” and the company will design new carry-on size guides so customers can see if their luggage fits as a carry on, according to a staff memo from Justin Jones, EVP of operations, and Adam Decaire, senior vice president of network planning, a copy of which was seen by CNBC.

The airline also plans to speed up retrofits of its Boeing 737-800s and Max aircraft to include larger overhead bins.

Will their be longer airport lines?

Possibly. In airport lobbies, Southwest said it could redistribute staff to handle changing customer needs with the new bag rules. It will also equip staff there with mobile printers.

“With an additional step for Customers to pay for bags at the ticket counter or kiosks, we have to plan for longer transaction and queue times, even if fewer Customers are checking their bags altogether,” the executives wrote.

Why is this happening?

Southwest has been under increasing pressure to raise revenue and improve returns after activist hedge fund Elliott Investment Management took a stake in the airline last year and pushed for changes to the carrier’s business model.

Southwest executives have long told Wall Street investors and customers that its “two bags fly free” policy is sacrosanct, something that sets it apart from competitors.

At an investor day in September, the carrier said it would make up to about $1.5 billion if it charged for bags but lose $1.8 billion in market share from the policy change.

What else is happening?

Lots! Southwest is going to launch a basic economy fare that is not refundable and doesn’t allow for changes. It won’t allow for same-day standby tickets.

Flight credits for those “basic” tickets, if unused, will expire in six months while credits for other flights will expire in 12 months. Previously, Southwest credits didn’t expire.

The carrier last year said it plans to start selling tickets with assigned seats, ending its decades-old open-seating policy. It will also soon offer seats with extra legroom, a bid to compete with more full-service airlines.

Southwest Airlines CEO Bob Jordan said Tuesday that the carrier’s executive team thinks the policy changes will drive sign-ups for its co-branded credit card.

He said the new channels the airline is selling tickets through, like Expedia, will help the carrier.

What is happening with frequent flyer miles?

Southwest passengers will earn Rapid Rewards frequent flyer miles based on how much they pay for their ticket. Redemption rates will depend on demand for the flight, a similar model to what other carriers have.

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Hinge Well being to go public as quickly as April, supply says

Hinge Health’s TrueMotion feature.

Courtesy: Hinge Health

Digital physical therapy startup Hinge Health is gearing up to file for an initial public offering, potentially as soon as next week, CNBC has learned.

Hinge Health helps patients with musculoskeletal injuries ranging from minor sprains to chronic pain recover from the comfort of their own homes. Its IPO has been a highly-anticipated exit within the battered digital health sector, which has been reeling from the aftermath of the Covid-19 pandemic.

The IPO could happen as early as April, but timelines might still change due to uncertainty around tariffs, according to a person familiar with the matter. Hinge Health, which contracts with employers, generated $390 million in revenue in 2024, had $45 million in free cash flow and hit gross margins of about 78%, the person said.

The San Francisco startup has raised more than $1 billion from investors like Tiger Global and Coatue Management. Hinge Health had a $6.2 billion valuation as of October 2021. Physical therapy is estimated to be a roughly $70 billion market by the end of the decade.

A spokesperson for Hinge Health declined to comment.

Hinge Health CEO Daniel Perez and Executive Chairman Gabriel Mecklenburg co-founded the company in 2014 after they were frustrated by their own experiences with physical rehabilitation, according to the company’s website.

Members of Hinge Health can access virtual exercise therapy and an electrical nerve stimulation device called Enso that’s designed to serve as an alternative to pain medications like opiates. The company has been using generative artificial intelligence to scale its care team in recent years.

The company competes directly with other digital health startups like Sword Health, but Hinge Health is about four times larger than is closet competitor, the person said.

Investors will be watching closely to see whether Hinge Health’s IPO serves as a positive bellwether for the sector.

Bloomberg reported Hinge Health’s IPO plans earlier on Friday.

WATCH: The market is in a good environment for hedge funds, says Citi’s Mithra Warrier

Did MSNBC Cancel Pleasure Reid To Please Donald Trump?

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When MSNBC pulled the plug on The Reid Out, it was strange because there was no warning that such a change could be coming for viewers. There was reportedly tension between Reid and her corporate bosses, who did not like her outspoken criticism and progressive stances. The thing that seemed to make them uncomfortable was Reid’s comfort in bluntly and truthfully discussing issues like racism and sexism as they relate to Trump and the current Republican Party.

Reid was beloved by her most powerful colleagues like Rachel Maddow on the network. Maddow defended Reid and called her firing, along with other non-white anchors like Katie Phang, a mistake.

Even more bees should start buzzing when the ratings data for The Reid Out is looked at.

According to The Daily Beast, Reid’s audience was increasing when she was canceled:

But the Beast has obtained the audience ratings compiled by Nielsen which are used by news networks to assess the success of their shows and the people appearing on them—and they show no signs that Reid was experiencing an audience plunge out of line with her MSNBC co-stars. In fact she and all the other primetime line-up were on an upswing in February.

…

Ratings for every MSNBC primetime host declined in the period after the election, but Reid’s drops do not appear substantially more than her peers. Melber’s total-viewer ratings were down 42 percent (1.552 million vs. 903,000) between Nov. 6 and the end of February from their 2024 pre-election ratings—as were Reid’s (1.421 million vs. 825,000). Hayes saw a 45 percent decline in that same period (1.496 million vs. 820,000).

Chris Hayes’s All In is regularly one of the lowest-rated shows on the network, yet he is allowed to keep chugging along.

MSNBC will soon be spun off into its own company, and it is reasonable to ask if the decision to get rid of so many progressive, non-white Trump critics on the network had something to do with appeasing the administration so that any future matters that may come before the Trump administration will be viewed more favorably.

Trump called Reid a racist and celebrated her firing on Truth Social.

With so much of the mainstream media bending their knees and catering to Trump, any viewer who invests their time watching MSNBC’s programming deserves an explanation.

Reid’s contract had ended with the network, but MSNBC execs seem to have chosen the path of least resistance by getting rid of strong progressive voices of color, which may have been done to please Donald Trump.

Do you think MSNBC got rid of Joy Reid to make Trump happy? Share your opinion in the comments below.

Leave a comment

China to slap retaliatory tariffs on some Canadian merchandise

Containers at the Port of Vancouver in Vancouver, British Columbia, Canada, Feb. 28, 2025.

Ethan Cairns/Bloomberg via Getty Images

China on Saturday announced retaliatory tariffs on some Canadian agricultural goods, hitting back after Ottawa slapped import duties on Chinese-made electric vehicles and steel and aluminum products.

Beijing said a 100% tariff would be imposed on Canadian rapeseed oil, oil cakes and peas, while a 25% levy would be placed on aquatic products and pork originating in Canada.

The tariffs are scheduled to come into force from March 20, according to a statement from China’s Customs Tariff Commission of the State Council.

The measures come amid a brewing global trade war, following several tariff announcements by the U.S., China, Canada and Mexico in recent months.

Canada imposed 100% import tariffs on Chinese-made EVs from Oct. 1 last year, following in the footsteps of the U.S. and the European Union over concerns related to unfair competition.

Ottawa also applied a 25% tariff on imports of steel and aluminum products from China, which came into effect from Oct. 15.

“Canada’s unilateral imposition of tariffs disregards objective facts and World Trade Organization rules, is a typical trade protectionist practice, constitutes a discriminatory measure against China, seriously infringes on China’s legitimate rights and interests, and undermines China-Canada economic and trade relations,” China’s customs authorities said in a statement on a Saturday, according to a Google translation.

Sitewide Financial savings on Free Individuals, Levi’s & Extra

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There are a few things that happen once a year — holidays, birthdays, and, of course, Revolve’s Anniversary Sale. For just one day only, you can save 20% sitewide (which includes beauty, shoes, accessories, clothes, new arrivals, and more) and that includes your favorite brands (like Free People, Nike, Levi’s Summer Fridays, and more). There’s a ton of chic dresses, tops, jeans, and more to shop, but just 24 hours, so don’t wait.

What’s on Sale at Revolve?

From now until March 6 at 11:59 p.m. PST, you can save 20% sitewide at Revolve with promo code HAPPY20. Discounts are applied at checkout, so I’ve calculated the deals below to save you some time. Just a note, sale items are excluded from the sitewide sale. However, I found styles up to 70% off, so it’s also a great place to shop.

What are you waiting for? Check out our curated picks and then head over to Revolve’s Sitewide Sale. Happy Anniversary!

Treasury Division halts enforcement of BOI reporting for companies

The US Treasury building in Washington, DC, US, on Monday, Jan. 27, 2025. 

Stefani Reynolds | Bloomberg | Getty Images

The U.S. Department of the Treasury on Sunday announced it won’t enforce the penalties or fines associated with the “beneficial ownership information,” or BOI, reporting requirements for millions of domestic businesses. 

Enacted via the Corporate Transparency Act in 2021 to fight illicit finance and shell company formation, BOI reporting requires small businesses to identify who directly or indirectly owns or controls the company to the Treasury’s Financial Crimes Enforcement Network, known as FinCEN.

The act became effective near the end of the first Trump administration despite a veto by the president. After previous court delays, the Treasury in late February set a March 21 deadline to comply or risk civil penalties of up to $591 a day, adjusted for inflation, or criminal fines of up to $10,000 and up to two years in prison. The reporting requirements could apply to roughly 32.6 million businesses, according to federal estimates.     

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The rule was enacted to “make it harder for bad actors to hide or benefit from their ill-gotten gains through shell companies or other opaque ownership structures,” according to FinCEN.

In addition to not enforcing BOI penalties and fines, the Treasury said it would issue a proposed regulation to apply the rule to foreign reporting companies only. 

President Donald Trump praised the news in a Truth Social post on Sunday night, describing the reporting rule as “outrageous and invasive” and “an absolute disaster” for small businesses.

Other experts say the Treasury’s decision could have ramifications for national security.

“This decision threatens to make the United States a magnet for foreign criminals, from drug cartels to fraudsters to terrorist organizations,” Scott Greytak, director of advocacy for the anticorruption organization Transparency International U.S., said in a statement.

— Greg Iacurci contributed to this article.

Clarification: This story has been updated to clarify that the act became effective during the first Trump administration.

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Mexico extradites drug cartel members amid Trump tariff menace

Soldiers escort a man who authorities identified as Omar Trevino Morales, alias “Z-42,” leader of the Zetas drug cartel, as he is moved from a military plane to a military vehicle at the Attorney General’s Office hangar in Mexico City, March 4, 2015.

Eduardo Verdugo | AP

Mexico extradited 29 drug cartel members to the United States amid a looming promise by President Donald Trump to impose stiff tariffs on Mexican imports.

The people extradited Thursday included Rafael Caro Quintero, a cartel kingpin who is charged in the U.S. with the 1985 slaying of Drug Enforcement Administration agent Enrique “Kiki” Camarena.

“The group of cartel members … includes one of the most evil cartel bosses in the world,” the White House said in a statement.

In the same statement, the White House said Trump had “directed the Department of Justice and the Department of State to make this happen, and Attorney General [Pam] Bondi and Secretary of State [Marco] Rubio did a tremendous job in getting this done.”

The DEA’s former chief of operations, Ray Donovan, said, “For those of us who have investigated Mexican cartels for many generations, this is truly an historical moment.”

“We have never seen this many sent from Mexico to the U.S. in one day,” Donovan said, according to NBC News.

The extraditions came on the heels of promises by Trump to impose tariffs of 25% on goods imported from Mexico and Canada if those countries do not take steps to halt the flow of the deadly opioid fentanyl and other narcotics across their borders with the U.S.

Those tariffs were suspended until next week after Mexico and Canada both took steps to address Trump’s concerns.

But questions remain whether Trump will follow through on his promise to impose the tariffs, and both Mexico and Canada are trying to convince the Trump administration not to do so.

The extraditions occurred on the same day that Rubio, Bondi and Defense Secretary Pete Hegseth met in Washington, D.C., with a delegation of high-level Mexico security officials, including Foreign Secretary Juan Ramon de la Fuente.

Read more CNBC politics coverage

The Department of Justice said the other cartel leaders and managers extradited by Mexico face charges in the U.S. that include murder, money laundering, racketeering and drug trafficking.

The people extradited are members of cartels recently designated as foreign terrorist organizations, including the Sinaloa Cartel, Cártel de Jalisco Nueva Generación, Cártel del Noreste, La Nueva Familia Michoacana, and Cártel de Golfo, the DOJ said in a statement.

“These defendants are collectively alleged to have been responsible for the importation into the United States of massive quantities of poison, including cocaine, methamphetamine, fentanyl, and heroin, as well as associated acts of violence,” the DOJ statement said.

A State Department spokesperson, in a statement about Rubio’s meeting Thursday with Mexican officials, said, “Secretary Rubio expressed appreciation for Mexico’s actions to secure our common border, including deploying 10,000 National Guard troops, as well as major seizures of fentanyl and its precursor chemicals, and the expulsion of 29 major cartel figures to stand trial for their crimes, making both our nations safer.”

“Both parties agreed upon the importance of making sure there was continued action beyond meetings and suggested the implementation of a timetable and touchbacks to target clear goals and sustainable results,” the spokesperson said.

Microsoft unveils Dragon Copilot, a voice-activated AI device for medical doctors

Microsoft is giving its health-care artificial intelligence tools a makeover. 

The company on Monday unveiled a new voice-activated AI assistant that combines capabilities from its dictation solution, Dragon Medical One, and ambient listening solution, DAX Copilot, into one tool.

“Dragon Copilot” will be able to help doctors quickly pull information from medical sources and automatically draft clinical notes, referral letters, post-visit summaries and more, according to the company. It’s Microsoft’s latest effort to help health-care workers cut down their daunting clerical workloads, which are a major source of burnout in the industry.

Clinicians spend nearly 28 hours a week on administrative tasks like documentation, for instance, according to an October study from Google Cloud.

“Through this technology, clinicians will have the ability to focus on the patient rather than the computer, and this is going to lead to better outcomes and ultimately better health care for all,” Dr. David Rhew, global chief medical officer at Microsoft, said Thursday in a briefing with reporters.

Microsoft acquired Nuance Communications, the company behind Dragon Medical One and DAX Copilot, for about $16 billion in 2021. As a result, Microsoft has become a major player in the fiercely competitive AI scribing market, which has exploded in popularity as health systems have been looking for tools to help address burnout. 

AI scribes like DAX Copilot allow doctors to draft clinical notes in real time as they consensually record their visits with patients. DAX Copilot has been used in more than 3 million patient visits across 600 health-care organizations in the last month, Microsoft said.   

Other companies like Abridge, which has raised more than $460 million according to PitchBook, and Suki, which has raised nearly $170 million, have developed similar scribing tools. Microsoft’s updated interface could help it stand out from its competitors. 

Dragon Copilot is accessible through a mobile app, browser or desktop, and it integrates directly with several different electronic health records, the company said. 

Clinicians will still be able to draft clinical notes with the assistant like they could with DAX Copilot, but they’ll be able to use natural language to edit their documentation and prompt it further, Kenn Harper, general manager of Dragon products at Microsoft, told reporters on the call.

For instance, a doctor could ask questions like, “Was the patient experiencing ear pain?” or “Can you add the ICD-10 codes to the assessment and plan?” Physicians can also ask broader treatment-related queries such as, “Should this patient be screened for lung cancer?” and get an answer with links to resources like the Centers for Disease Control and Prevention. 

WellSpan Health, which treats patients across 250 locations and nine hospitals throughout central Pennsylvania and northern Maryland, has been testing out Dragon Copilot with a group of clinicians in recent months. 

One of those clinicians is Dr. David Gasperack, chief medical officer of primary care services at WellSpan. It’s still early days, but Gasperack told CNBC the assistant is easy to use and has been more accurate than Microsoft’s existing offerings. 

“We’ve been asked more and more over time to do more administrative tasks that pull us away from the patient relationship and medical decision making,” Gasperack said. “This allows us to get back to that so we can focus on the patient, truly think about what’s needed.”

Microsoft declined to share the cost of Dragon Copilot but said the pricing structure is “competitive.” It will be easy for existing customers to upgrade to the new offering, the company added.   

Dragon Copilot will be generally available in the U.S. and Canada starting in May, Microsoft said. The roll out will expand to the U.K., the Netherlands, France and Germany in the months following.

“Our goal remains to restore the joy of practicing medicine for clinicians and provide a better experience for patients globally,” Rhew said.

Watch: What it’s like to have a doctor visit with AI

The sustainable farm beloved by King Charles: FarmED, within the Cotswolds

King Charles III (then Prince Charles) visits Honeydale Farm in the Cotswolds region of England on June 22, 2021. The King is known to be a supporter of sustainable agriculture.

Toby Melville | Getty Images

When King Charles III visited Honeydale Farm in England’s Cotswolds region, one of his first remarks was: “Monoculture. That’s our problem.”

That’s the recollection of the farm’s owner Ian Wilkinson, as he walked down its drive with the then Prince Charles almost four years ago.

“And I nodded, and thought: ‘well, absolutely,'” Wilkinson told CNBC via video call.

Monoculture refers to the common practice of growing a single crop on a piece of land, sometimes year after year. Crops are grown in this way for efficiency, but critics say doing so depletes soil nutrients and increases the risk of disease.

The king — a longtime supporter of organic farming — visited Honeydale to learn about its focus on growing a wide variety of plants, a technique that aims to regenerate the soil.

Wilkinson studied agriculture in the 1970s when monoculture was encouraged after a post-World War II drive for the U.K. to import less food and become more self-sufficient.

“We were trained to produce more food and do it cheaply — and we didn’t have much regard for the environment, for nature,” Wilkinson said. Farmers relied on fertilizers made from petrochemicals, he added, and today, only around 3% of agricultural land in the U.K. is farmed organically, according to the most recent government statistics.

A long career at the Cotswold Seed Company, which supplies farms with seeds for wildflowers, grasses and root crops, meant Wilkinson heard from a lot of farmers, some of whom emphasized the need for self-sufficiency and for a diverse range of crops.

FarmED is a “demonstration” farm that is exploring regenerative agriculture practices, such as herbal leys, a method of adding nitrogen back into the soil.

FarmED

Wilkinson and his wife Celene bought the 107-acre Honeydale in 2013, and turned it into a demonstration farm — known as FarmED — that would explore how agriculture could be regenerative, rather than depleting the land.

When they bought it, cereal crops and grassland made up most of the farm, and the Wilkinsons introduced lambs and a wildflower area and planted 20,000 trees for birds to nest in. The farm’s orchard grows heritage apple varieties including one named “Blenheim Orange,” which dates back to around 1740. FarmED has also put in a natural flood management scheme. The farm sits in the Evenlode Valley, where the River Evenlode floods regularly, and the new scheme collects rainwater in a series of ponds connected by channels, aiming to prevent flooding.

Soil — a carbon store

“An over-extractive system in terms of soil health is a big problem,” Wilkinson told CNBC. “And soil health, of course, is linked to water quality and to pollution,” he said. Soil also sequesters — or stores — carbon, and in 2023 the British government noted that “intensive agriculture has caused arable soils to lose about 40 to 60% of their organic carbon.”

“We need to evolve into the next iteration of farming, still producing enough food for … a growing world population, but to do it in a way that is not so extractive and actually rebuilds the natural systems,” Wilkinson said.

To that end, FarmED, a nonprofit, is “rebuilding” the soil on the farm by focusing on a crop rotation using what’s known as a herbal ley, a mix of herbs, grasses and clovers that add nitrogen — a natural fertilizer — to the soil. A herb like chicory has long roots that can “mine” the soil for minerals, improving its health, while a grass like cocksfoot is drought resistant.

Heritage wheat and rye are grown over an eight-year rotation that uses no artificial fertilizers or sprays, and are compared to a “control” plot of wheat that is farmed in a traditional way — which does use artificial fertilizer — so FarmED can measure the health of the soil versus the regenerative plots. There are indications that the soil has been regenerated, with an improved structure and more earthworms, Wilkinson said.

FarmED co-founder Ian Wilkinson shows King Charles III (then Prince Charles) a sample of the soil on Honeydale Farm, on June 22, 2021.

Toby Melville | Getty Images

The ley is “managed” by livestock using a method called “mob-grazing,” where several animals graze a different, small, area of land each day. In doing so, they trample some of the plants back into the soil, creating a natural fertilizer along with their manure.

The method also means no single plant becomes dominant, which improves diversity, and once the soil’s fertility has improved over four years, wheat and oats are grown on the land.

Around 20% of FarmED’s visitors are farmers, some of whom have added herbal leys to their farms, while other visitors come from the food or related industries, or are members of the public. People can attend talks on topics such as beekeeping, foraging and woodworking, while a forthcoming session is titled “Goats for beginners.”

Wilkinson said people from different backgrounds visit, including those from pesticide companies or those who “feel really strongly about the world.” “Some companies are trying to figure out what regenerative agriculture means to them,” Wilkinson said.

“We simply say we’re not here to judge. We just know that agriculture has to move to the next era,” he said.

CFPB drops lawsuits in opposition to Capital One and Rocket Mortgage affiliate

Russell Vought, director of the Office of Management and Budget (OMB) nominee for US President Donald Trump, during a Senate Budget Committee confirmation hearing in Washington, DC, US, on Wednesday, Jan. 22, 2025. 

Al Drago | Bloomberg | Getty Images

The Consumer Financial Protection Bureau’s new leadership on Thursday dismissed at least four enforcement lawsuits undertaken by the previous administration’s director.

In legal filings, the CFPB issued a notice of voluntary dismissal for cases involving Capital One; Berkshire Hathaway-owned Vanderbilt Mortgage & Finance; a Rocket Cos. unit called Rocket Homes Real Estate; and a loan servicer named Pennsylvania Higher Education Assistance Agency.

“The Plaintiff, the Consumer Financial Protection Bureau, dismisses with prejudice this action against all Defendants,” the agency said in the Capital One case. It used similar language in the other cases.

The moves are the latest sign of the abrupt shift at the agency since acting CFPB Director Russell Vought took over this month. In conjunction with Elon Musk’s Department of Government Efficiency, the CFPB has shuttered its Washington headquarters, fired about 200 employees and told those who remain to stop nearly all work.

Under former Director Rohit Chopra, the CFPB accused Capital One of bilking customers out of more than $2 billion in interest; it said Vanderbilt ignored signs that customers couldn’t afford its mortgages; it accused Rocket of providing illegal kickbacks to real estate agents; and it said that loan servicer Pennsylvania Higher Education Assistance Agency improperly collected loans.

A Capital One spokesman said the bank welcomed the dismissal of its case, which it “strongly disputed.”

A spokesman for Rocket also lauded the news: “Rocket Homes has always connected buyers with top-performing agents based only on objective criteria like how well they helped homebuyers achieve their dream of homeownership. We are proud to put this matter behind us.”

Shares of Capital One and Rocket climbed after the dismissals.

Billions lost

Current and former CFPB employees have told CNBC that legal cases with upcoming docket dates would likely be dismissed as the agency disavows most of what Chopra has done.

That began late last week, when the agency dismissed its case against SoLo Funds, a fintech lender it had earlier accused of gouging customers.

Eric Halperin, the CFPB’s former head of enforcement, said in a phone interview Thursday that the spate of CFPB dismissals was unprecedented in the bureau’s history.

“Five cases have been dismissed so far by this administration, whereas in the entire history of the bureau, there’s only been one other case dismissed without relief for any consumers,” Halperin said.

On Friday, the CFPB also dropped its case against TransUnion that accused the credit agency of violating a 2017 order related to the company’s marketing of its credit tools to consumers.

“We are pleased with the dismissal of this case, which reflects our long-standing view of the facts and our ongoing work to support consumers,” a TransUnion spokesperson wrote in a statement to CNBC.

Since the recent cases were dismissed with prejudice, the CFPB has agreed to never bring these claims again, shutting off the possibility of clawing back funds for consumer relief, Halperin added.

“Just from the cases that were dismissed today, there’s billions of dollars in consumer harm that the CFPB will never be able to get back for consumers,” he said.

‘Embarrass you’

The Thursday filings began appearing at the same time that senators were grilling Jonathan McKernan, President Donald Trump’s pick to lead the CFPB on a permanent basis, during a nomination hearing.

“Mr. McKernan, literally while you’ve been sitting here and you’ve been talking about the importance of following the law, we get the news that the CFPB is dropping lawsuits against companies that are cheating American families, or alleged to be cheating American families,” Sen. Elizabeth Warren, D-Mass., said.

“It seems to me the timing of that announcement is designed to embarrass you,” Warren said.

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