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Treasury Secretary Bessent Takes Helm of Consumer Finance Watchdog, Orders Halt to Work

Scott Bessent has been appointed by President Trump as the acting director of the Consumer Financial Protection Bureau, replacing Rohit Chopra, who was fired on Saturday.
An internal email instructed staff to cease much of the Bureau's work, including rulemaking and enforcement actions, effective immediately.
Bessent aims to advance Trump's agenda to lower costs for Americans and promote economic growth, reflecting the administration's goals.
Democratic members of Congress have criticized the reshaping of the federal government as a circumvention of constitutional separation of powers, while some Republicans supported the changes.

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American Prospect

Nothing Normal About This CFPB Takeover

All work at the agency has been shut down indefinitely.

20 days ago·Washington, United States

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The American Spectator

CFPB: New Treasury Secretary Scott Bessent Deployed to Fix What Rohit Chopra Broke - The American Spectator | USA News and Politics

In a desperately needed move this week, President Donald Trump fired Rohit Chopra, director of the Consumer Financial Protection Board (CFPB), and installed Treasury Secretary Scott Bessent as acting director.

19 days ago·Alexandria, United States

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Hampton Roads Messenger

Statement on Designation of Treasury

Tweet Washington, D.C. — On January 31, 2025, President Trump designated Secretary of the Treasury Scott Bessent as Acting Director of the Consumer Financial Protection Bureau (CFPB). “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,” said Secretary Bessent. Tweet

19 days ago·Hampton, United States

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Newser

Bessent Tells CFPB to Stop Nearly All Its Work

The Consumer Financial Protection Bureau has all but shut down after receiving a list of tasks from Treasury Secretary Scott Bessent that is no longer allowed to do. Bessent, who is functioning as the bureau's acting director after President Trump fired Rohit Chopra on Saturday, wrote in a staff email...

20 days ago·Miami, United States

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Benzinga

Bessent Freezes Consumer Financial Protection Bureau Work Leaving Lawsuits Against JPMorgan, Bank Of America, Capital One In Limbo - Bank of America (NYSE:BAC), Capital One Finl (NYSE:COF)

Treasury Secretary Scott Bessent on Monday ordered a halt to the majority of work at the Consumer Financial Protection Bureau after being selected as the acting director of the agency by President Donald Trump.

20 days ago·New York, United States

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