Treasury Secretary Named Acting Director of CFPB

February 4, 2025

President Trump on Jan. 31 designated Secretary of the Treasury Scott Bessent as acting director of the Consumer Financial Protection Bureau (CFPB).

Trump fired Rohit Chopra as director of the bureau over the weekend.

“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. 

Shortly after taking the position, Bessent issued an immediate ban on CFPB staff from crafting regulations, enforcing rules, conducting probes or communicating with the public.

ALTA looks forward to working with new leadership at the CFPB to ensure the CFPB focuses on areas for productive collaboration with our industry.


Contact ALTA at 202-296-3671 or [email protected].