Treasury Secretary Bensent is reportedly set to temporarily lead the U.S. Consumer Financial Protection Bureau, with hopes of easing regulations

According to informed sources, Scott Bessent, the current U.S. Treasury Secretary, is now serving as the acting director of the Consumer Financial Protection Bureau (CFPB), indicating that the Trump administration may change the strict enforcement and regulatory approach under Rohit Chopra's leadership. Previously, Chopra was dismissed by the Trump administration. This official appointed during Biden's era imposed billions of dollars in fines and consumer compensation on banks such as Wells Fargo, Goldman Sachs and Citigroup during his tenure. Bessent, a former hedge fund manager who officially became Treasury Secretary last week, will have a broad agenda including tax cuts, deregulation and trade rebalancing as a spokesperson for Trump's economic policies.