Trump names Treasury Secretary Scott Bessent as acting CFPB director [Video]

Treasury Secretary Scott Bessent will serve as the acting director of the Consumer Financial Protection Bureau (CFPB), the agency announced on Monday.

“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,” Bessent said.

The CFPB’s announcement noted that President Donald Trump designated Bessent as the agency’s acting director on Friday. Former CFPB Director Rohit Chopra wrote in a letter published Saturday that he was no longer serving as the agency’s director.

Bessent was confirmed as Treasury secretary last week, when the Senate cast a bipartisan 68-29 vote to confirm him to the role. Bessent, 62, served as a key economic policy adviser to the Trump campaign before he was nominated to the Cabinet role.

SCOTT BESSENT CONFIRMED BY SENATE TO SERVE AS TRUMP’S TREASURY SECRETARY

Republicans have long criticized the CFPB for its aggressive approach to regulating the financial services industry. The agency also faced a legal challenge to the constitutionality …