Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Former Republican presidential candidate, Donald Trump, is listening to the left, where investor Scott Bessin talks about the economy in Atelier, North Carolina, on Wednesday, August 14, 2024.
Matt Kelly AP
President Donald Trump made Treasury Secretary Scott Beesente to the Acting Director Consumer Financial Protection Office After the previous shooting Rohit Chopra during the weekend.
Bessent, the former hedge fund manager who was confirmed as head of the US Treasury, will lead last week, CFPB until a permanent choice is called.
“I look forward to working with CFPB to enhance President Trump’s agenda to reduce the costs of the American people and accelerate economic growth,” said Besent at CFPB. statement Released on Monday.
Chopra, who was appointed by former President Joe Biden in 2021, was often on the heads of Logpers with the American banking industry after pressing practices about late credit card fees and open cloud fees, among many other efforts. The commercial groups that the banks represent these regulations in the court, which resulted in saving the rules that would save the Americans billions of dollars from the fees, but the industry is called poorly or unjustified.
Banking groups expected that Chopra would be separated as soon as the day of Trump’s inauguration, but Chopra remained continuous for about two weeks in the second period of Trump, and continued to shoot. Versions And weighing topics in the hot button, including whether the banks are unfairly closed.
Until February 1, Chopra confirmed that he was stepped down from the agency. While the term Chopra was scheduled to run for nearly two years, a Supreme Court in 2020 to rule The President gave the authority to launch the agency’s head as desired.
In a message to Trump to publish To the social media platform X, Chopra said he saw a way for the next CFPB commander to “the” meaning of meaning “, including possible cap On credit card interest rates.
CFPB was created in the wake of the 2008 global financial crisis, which has partially caused irresponsible lending and suppliers of banks.
But the agency has since targeted commercial groups who have argued to no avail that CFPB financing Violate The United States Constitution, and more recently from conservative figures, including the owner of X and Trump’s advisor, Elon Musk, who called for ending From CFPB.
The Books Association for Consumers said on Monday that he was “pleased” to appoint Bessent in CFPB, and that BESSENT must take steps to reflect the “party policies” that were held during the Chopra era.
“We hope that Minister Besin will take into account the repercussions in the real world on the leading banks in America, millions of consumers who serve them, and the economy as a whole,” said CBA Lindsie Johnson President.