One by one, Donald Trump's cabinet is taking over federal agencies; now US Treasury chief Scott Bessent takes over consumer watchdog, freezes all activity

Donald Trump, as soon as he took over as the US President, began inducting his cabinet members into federal agencies. And now, newly appointed US Treasury chief Scott Bessent has become the acting director of the Consumer Financial Protection Bureau, who is now the latest Cabinet member to be added to a coveted federal agency post.

New acting director at the helm of CFPB after dismissal of Rohit Chopra by President Trump

As soon as Bessent took over charge as the acting director of the Consumer Financial Protection Bureau, he immediately halted all ongoing operations of the agency, including pending investigations, litigation, as well as public communications, according to a Reuters report. This freezing of all activities of the CFPB is coming in as a strong response to former Director Rohit Chopra who clashed with the tech sector and banking industry throughout the last leg of the Biden administration.

Agency-wide email by Bessent asks staff to halt operations

The appointment of Bessent comes soon after President Trump dismissed Chopra at the end of last week. and now the new acting director has stated that he looks forward to working along the lines of Trump's economic agenda and advancing it further.


In an email written by Bessent which was circulated agency-wide, Bessent stressed the importance of the rump administration's goals and directed CFPB staff to stop pursuing any pending or ongoing activities, especially around investigations, litigation, or public communications, among other things.

FAQs:

Who is the new director of the CFPB?
The new acting director of the Consumer Financial Protection Bureau is the US Treasury chief Scott Bessent.

Is Scott Bessent a part of the federal administration?
Yes, Scott Bessent is now a part of the federal administration of new US President Donald Trump as the US Treasury chief.