Trump appoints Treasury secretary as acting head of consumer protection bureau
President Donald Trump has appointed Treasury Secretary Scott Bessent as the acting director of the Consumer Financial Protection Bureau (CFPB). This follows the resignation of former director Rohit Chopra, who had a year left in his term. Bessent, who was sworn in as treasury secretary last week, is expected to lead changes at the CFPB. Republican lawmakers and the American Bankers Association have expressed support for his appointment, citing concerns over the agency's previous actions. The CFPB was created in 2010 to consolidate consumer financial protection efforts. Critics of Chopra's leadership claim it overreached its authority, while supporters argue it has provided significant consumer relief.