Trump Appoints Bessent as Acting Director: Consumer Finance Watchdog frozen
2025-02-03
Wall Street Journal
In a significant move, Treasury Secretary Scott Bessent has been named the acting director of the Consumer Financial Protection Bureau by President Trump. Following his appointment, Bessent has ordered a halt to all work at the bureau, sparking concern among consumer finance advocates. This development is expected to have far-reaching implications for financial regulation and consumer protection in the US. Key areas of focus include mortgage lending, credit reporting, and financial industry oversight, which are critical components of consumer finance. As the bureau's new leader, Bessent's decisions will be closely watched by stakeholders and industry experts alike.
