Treasury Secretary Scott Bessent will also serve as the acting head of the Consumer Financial Protection Bureau (CFPB) after President Donald Trump removed Rohit Chopra from his role as director.
This leadership change may signal a shift away from Chopra’s aggressive approach, which saw billions in fines against Big Banks like Wells Fargo (WFC), Goldman Sachs (GS), Citigroup (C). Chopra urges his successor to maintain the focus on regulating powerful agencies and protecting consumers.
Yahoo Finance interviewed Chopra in September 2024, discussing consumer protections ahead of the Federal Reserve’s decision to start cutting interest rates last fall.
To watch more expert insights and analysis on the latest market action, check out more Wealth here.
This post was written by Josh Lynch
