Trump Appoints Bessent as Acting Director: Consumer Finance Watchdog Operations Halted
2025-02-03
The Wall Street Journal on MSN.com
In a significant move, Treasury Secretary Scott Bessent has been named the acting director of the Consumer Financial Protection Bureau by President Trump, prompting an immediate halt to the agency's work. This sudden freeze is expected to impact various consumer finance regulations and protections. As the new leader, Bessent will oversee the bureau's operations, which include mortgage lending, credit card practices, and financial consumer protection laws. The halt in operations may raise concerns among consumer advocacy groups and industry stakeholders. Key areas like financial regulatory compliance and consumer financial services will be closely watched. The future of consumer finance remains uncertain under Bessent's leadership.
