Trump Appoints Scott Bessent as Acting CFPB Director Amid Major Agency Overhaul
Treasury Secretary Scott Bessent has been appointed as acting director of the CFPB following the dismissal of Rohit Chopra as head of the agency.
The abrupt leadership change at the Consumer Financial Protection Bureau signals a troubling shift towards a more lenient regulatory environment that caters to the interests of big banks, undermining the agency's core mission of protecting consumers from financial abuses.
Consumer protection agency is Trump's latest shakeup
Salon·3M·Mostly ReliableThis source is generally reliable but sometimes includes opinion, propaganda, or minor inaccuracies.LeftThis outlet favors left-wing views.
The appointment of Scott Bessent as the acting director of the CFPB seems to be part of a broader strategy by President Trump to reshape federal agencies, a move that has both supporters and critics reflecting on the future of consumer financial protections.
NBC News·3M·ReliableThis source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.CenterThis outlet is balanced or reflects centrist views.
The appointment of Scott Bessent as acting director of the CFPB signals a troubling shift towards prioritizing business-friendly policies over consumer protections, raising concerns about the future of the agency's crucial regulatory role.
Treasury Secretary Bessent, tapped to run CFPB, orders staff to halt work
NPR·3M·ReliableThis source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.CenterThis outlet is balanced or reflects centrist views.
The appointment of Scott Bessent as acting director of the CFPB signals a shift back towards prioritizing economic growth and reducing costs, aligning with the broader agenda of the Trump administration.
Trump Appoints Treasury Secretary Bessent as Acting CFPB Director
Epoch Times·3M·Mixed ReliableThis source has a mixed track record—sometimes accurate but also prone to bias, sensationalism, or incomplete reporting.RightThis outlet favors right-wing views.
The recent firing of Rohit Chopra and appointment of Scott Bessent as acting director of the CFPB underscores Trump’s determination to reshape financial regulation in favor of the banking industry.
Trump names Treasury Secretary Scott Bessent acting head of CFPB after firing Chopra
CNBC·3M·ReliableThis source consistently reports facts with minimal bias, demonstrating high-quality journalism and accuracy.CenterThis outlet is balanced or reflects centrist views.
Scott Bessent's appointment as acting director of the CFPB signals a shift toward a more cost-conscious and business-friendly approach to consumer financial protection under the Trump administration.
Fox Business·3M·Mostly ReliableThis source is generally reliable but sometimes includes opinion, propaganda, or minor inaccuracies.Leans RightThis outlet slightly leans right.
Summary
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.
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