On January 31, 2025, the CFPB
announcedPresident Donald Trump had appointed Scott Bessent as
Acting Director of the CFPB.In a brief statement, Bessent expressed
his commitment to advancing the administration's agenda to
lower costs for Americans and accelerate economic growth.
Industry groups have welcomed Bessent's leadership,
anticipating a rollback of regulations established during tenure of
former Director Rohit Chopra.
Bessent reportedly sent an email to staff instructing them to
pause all new rulemaking, enforcement activity, litigation efforts,
and public communications, except as approved by the Director's
office or required by law. This may impact ongoing lawsuits and
rules that are final but have yet to go into effect.
