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.

In a familiar move, President Donald Trump has designated the current head of another executive agency, this time newly sworn in Secretary of the Department of the Treasury Scott Bessent to simultaneously lead the Consumer Financial Protection Bureau (CFPB) in an acting capacity.

“President Trump’s decision to fire CFPB Director Rohit Chopra marks the end of an era of strong consumer protection and the beginning of a plan to end this important agency,” Maxine Waters, the top Democrat on the House Financial Services Committee, said in a statement.