Change Comes to the CFPB
Today, President Trump announced that on January 31 he appointed Secretary of the Treasury Scott Bessent as acting director of the CFPB. As one of his first actions as acting director, Secretary Bessent ordered that the CFPB will:
- halt movement on any proposed or final rules or guidance;
- suspend effective dates of rules;
- not advance investigations or enforcement actions; and
- not publish public communications or reports.
AFSA wrote to Secretary Bessent to thank him for stopping the current CFPB action and to share our suggestions for a better functioning CFPB. AFSA looks forward to working with Secretary Bessent and his team to champion economic policies that strengthen the consumer credit industry and ensure a brighter future for American workers and their families.
February 3rd, 2025
