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.

Shares of JPMorgan Chase ( JPM -3.98%), the largest bank in the U.S. by assets, traded nearly 5% lower as of 10:52 a.m. ET. Shares of Wells Fargo ( WFC -4.84%) traded 6.5% lower at that time, while shares of Citigroup ( C -6.25%) were down 7.5%.