Feb 27 (Reuters) - The U.S. Consumer Financial

Protection Bureau on Thursday dropped a legal action against

Capital One, which the agency had accused last month of

cheating consumers out of more than $2 billion in interest

payments on savings accounts.

The dismissal continues President Donald Trump's rapid moves

to dismantle the agency, which he has said should be eliminated,

but came the same day as his nominee to head the CFPB, Jonathan

McKernan, testified before the Senate in a confirmation hearing.