Republican presidential candidate, former President Donald Trump, to the left, listens to the Scott Bessent investor speaks of an economics in Asheville, NC, Wednesday, August 14, 2024.
Matt Kelley | AP
President Donald Trump has become a finance minister Scott betting acting director Consumer Protection Office After firing ex -head of Rohit Chopra over the weekend.
Bessent, a former Hedge Fund manager who was confirmed last week as a US Treasury Head, is likely to run a CFPB until a permanent choice is appointed.
“I look forward to working with CFPB to improve the agenda of President Trump to reduce the costs of the American people and accelerate economic growth,” Bessent said at CFPB statement Posted on Monday announcing his appointment.
Chopra, named former President Joe Biden in 2021, was often headquartered with the US banking industry after trying to drain the practices around him drastically credit card late fees and exceed Fees, among many Other efforts. The merchant groups representing banks fought These regulations in court, which are rejected by the rules that would save Americans of billions of dollars, but that the industry called poorly considered or unjustified.
Banking groups expected that Chopra would release as soon as Trump’s day of inauguration, but Chopra remained for almost two weeks in Trump’s second term, continuing to shoot betrayal And weigh the topics of hot buttons, including whether banks are unjustly closed accounts.
This story develops. Please check updates.