Former Director Chopra has announced the end of his tenure at the Consumer Financial Protection Bureau (CFPB). Despite his resignation, he continued to fulfill his duties until it was made public. On Friday, the CFPB revealed that more enforcement actions were expected.
Congressman William Timmons from South Carolina sent a letter to the CFPB deputy director on Sunday. In this letter, he requested that the Bureau halt any further actions.
President Trump disclosed today that Scott Bessent, Secretary of the Treasury, was appointed as acting director of the CFPB on January 31. One of Bessent's initial decisions as acting director includes pausing movement on proposed or final rules or guidance. He also decided to suspend effective dates of rules and cease advancing investigations or enforcement actions. Additionally, there will be no publication of public communications or reports under his direction.