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Treasury Secretary Bessent, tapped to run CFPB, orders staff to halt work

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Treasury Secretary Scott Bessent has been tapped by President Trump to be acting director of the Consumer Financial Protection Bureau. Here, he appears before the Senate Finance Committee on Jan. 16.

The staff at the Consumer Financial Protection Bureau was instructed by email to cease much of its work. Bessent, a wealthy Wall Street investor, replaces Rohit Chopra, who was fired on Saturday.

(Image credit: J. Scott Applewhite)

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