The staff at the Consumer Financial Protection Bureau was instructed by email to cease much of its work. Bessent, a wealthy Wall Street investor, replaces Rohit Chopra, who was fired on Saturday.

In a desperately needed move this week, President Donald Trump fired Rohit Chopra, director of the Consumer Financial Protection Board (CFPB), and installed Treasury Secretary Scott Bessent as ...

The Consumer Financial Protection Bureau halted much of its work to investigate and penalize corporate wrongdoing Monday, after Treasury Secretary Scott Bessent — tapped to lead the watchdog on ...

Newly confirmed Treasury Secretary Scott Bessent is now also the acting director of the Consumer Financial Protection Bureau.

Treasury Secretary Scott Bessent, who was named to be acting director of the Consumer Financial Protection Bureau, has told the agency's staff to put a halt to all rules, enforcement actions and ...

In his first official action as acting director of the CFPB, Treasury Secretary Scott Bessent ordered staffers to stop working.

While experts say a pause of CFPB actions is nothing to worry about, they are concerned about a potential lack of federal enforcement.

It is not immediately clear what Secretary Bessent’s priorities will be as acting head of the CFPB.

President Donald Trump has tasked Treasury Secretary Scott Bessent with serving as the acting director of the Consumer Financial Protection Bureau, the agency said Monday.

Rather than support financial firms through enforcement resources, the CFPB under Chopra chose to demonize American banks and technology companies as responsible for the mistakes of consumers.

Bessent, a wealthy hedge fund manager, was already expected to be a business-friendly choice to lead the Treasury. Now he will lead the CFPB, the federal consumer watchdog, at least for a time.

Bessent, a former hedge-fund manager who was confirmed as head of the U.S. Treasury on Jan. 27, will presumably lead the CFPB until a permanent pick is named.