The secretary replaces Rohit Chopra, who had aggressively sought to expand the bureau’s authority over banks and other financial firms.

The Senate voted to confirm investor and billionaire hedge fund manager Scott Bessent to serve as President Donald Trump’s Treasury

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.S. Treasury last week, will presumably lead the CFPB until a permanent pick is named.