The news: The Consumer Financial Protection Bureau (CFPB) paused operations, including the implementation of recent rules, as new leadership takes over the agency, per NPR.
- President Donald Trump fired CFPB director Rohit Chopra over the weekend in a highly expected move. Trump appointed Treasury Secretary Scott Bessent as acting director until a permanent pick is named.
- CFPB staff members were instructed to immediately cease work unless required by law or expressly approved by Bessent to ensure the agency’s goals are consistent with the new administration.