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.

President Donald Trump on Monday designated Treasury Secretary Scott Bessent with additional duties as acting director of the Consumer Financial Protection Bureau after firing Rohit Chopa on Saturday.