President Donald Trump has appointed Treasury Secretary Scott Bessent as the acting director of the Consumer Financial Protection Bureau (CFPB), succeeding Rohit Chopra who was fired. This move indicates a shift towards reducing regulatory oversight, as Bessent begins significant operational freezes in the CFPB, halting various rules and enforcement actions. Bessent, a hedge fund manager, was sworn in as Treasury Secretary just last week. Critics, including Sen. Elizabeth Warren, express alarm over the potential undermining of consumer protections established under Chopra. This development follows Trump’s strategy to consolidate federal agencies amid talks of eliminating the CFPB entirely.