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.

President Donald Trump appointed Treasury Secretary Scott Bessent the acting director of the Consumer Financial Protection Bureau, Bessent announced in a CFPB statement. Former Director Rohit Chopra posted a letter to Trump on social media platform X confirming that his term at the agency had "concluded.

The secretary replaces Rohit Chopra, who had aggressively sought to expand the bureau’s authority over banks and other financial firms.