WASHINGTON (Reuters) -The U.S. Consumer Financial Protection Bureau and the online lender MoneyLion have agreed to resolve allegations made under the prior administration that the company imposed illegal and excessive charges on military service members and their families, according to court papers.

The announcement came the same day the CFPB’s acting director, Russell Vought, said the agency would be closed down within months even though the administration has said in court it has no such plan.

The CFPB and MoneyLion “have reached an agreement in principle to fully resolve this action, including injunctive and monetary terms,” lawyers for both sides said in a letter filed in the U.S. District Court for the Southern District of New York. They expect to submit a proposed judgment to the c

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