President Donald Trump has made Treasury Secretary Scott Bessent the acting director of the Consumer Financial Protection Bureau after firing former head Rohit Chopra over the weekend. Bessent, a former hedge fund manager who was confirmed as head of the U.

“President Trump’s decision to fire CFPB Director Rohit Chopra marks the end of an era of strong consumer protection and the beginning of a plan to end this important agency,” Maxine Waters, the top Democrat on the House Financial Services Committee, said in a statement.

In a familiar move, President Donald Trump has designated the current head of another executive agency, this time newly sworn in Secretary of the Department of the Treasury Scott Bessent to simultaneously lead the Consumer Financial Protection Bureau (CFPB) in an acting capacity.