Tail. Andy Harris, R-md., It is harder to decrease the tax on Trumps in the midst of the Scott Bessents hearing and Congress clashes with the Strategy for the Proposal of the Recalling Act.
Scott Besent Treasury Secretary will perform the duty of acting director Consumer Protection Office (CFPB), the agency announced on Monday.
“I look forward to working with CFPB to improve President Trump’s agenda to reduce the costs of the US people and accelerate economic growth,” Bessent said.
The CFPB announcement noted that the president Donald Trump Bessent labeled an acting agency on Friday. Former CFPB Director Rohit Chopra wrote in a letter published on Saturday that he no longer served as a director of the agency.
The Beesent was confirmed last week as a treasure minister, when the Senate gave a two-sided 68-29 vote to confirm the role. Bessent (62) served as a key advisor to the Trump’s Economic Policy of the Trump campaign before being nominated for the role of cabinet.
Scott Beesent confirmed the Senate to serve as Trump’s Treasury Minister
The scott scott incident secretary will perform the post of acting director of the CFPB. (Vincent Alban / Bloomberg via Getty Images / Getty Images)
Republicans have long criticized CFPB for their aggressive approach to regulation of the financial services industry. The Agency also faced the legal challenge of the constitutionality of its funding structure that reached Supreme Courtwhich found that the funding of the agency was constitutional.
While Bessent went through the certificate process, he replied to a questionnaire from a senator in which he was asked if he believed that CFPB should be abolished.
“CFPB has created the legislation issued by Congress,” Bessent wrote. “I look forward to working with the CFPB income director to ensure that the bureau can be effective in fulfilling my legal mission.”
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CFPB regulates the financial services industry, but faced criticism of GOP for its aggressive approach. (Photographer: Samuel Corum / Bloomberg via Getty Images / Getty Images)
It is unclear at the moment how long the Besente will be the acting director of the CFPB or when Trump administration intends to nominate a new director.
Chopra could remain in his role as the leader of the agency, as he was in the third year of five -year term, which should be completed in 2026, although he said earlier that he would deviate from the role if he was requested by the new president. The Supreme Court in 2020 found that the CFPB director was an employee at will.
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Billionaire Elon muskwhom Trump borrowed to run the Government Efficiency Department (Doge) has hinted that he can try to eliminate the agency in the post on X.
“Delete CFPB,” Musk wrote. “There are too many duplicative regulatory agencies.”
