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 acting director.

President Donald Trump appointed Treasury Secretary Scott Bessent the acting director of the Consumer Financial Protection Bureau, Bessent announced in a CFPB statement. Former Director Rohit Chopra posted a letter to Trump on social media platform X confirming that his term at the agency had "concluded.

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.