Bessent to be Acting CFPB Head, Pauses Rules and Litigation (2)

Treasury Secretary Scott Bessent is now the acting head of the US Consumer Financial Protection Bureau, signaling a potential shift away from the aggressive enforcement and regulatory approach under Rohit Chopra.

It comes after Chopra was fired by the Trump administration. The Biden-era appointee’s term was marked by billions of dollars in fines and consumer compensation collectively against lenders such as Wells Fargo & Co., Goldman Sachs Group Inc. and Citigroup Inc.

“I look forward to working with the CFPB to advance President Trump’s agenda to lower costs for the American people and accelerate economic growth,” ...