This weekend, former Director Chopra announced that his tenure as head of the CFPB had concluded. Director Chopra continued to work up until his resignation became public. Late Friday, the CFPB indicated further enforcement actions were forthcoming. Congressman William Timmons (R-SC) sent a letter from him to the CFPB deputy director on Sunday, requesting the Bureau refrain from any further actions.
Today, President Trump announced that on Jan. 31 he had 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.
This weekend, former Director Chopra announced that his tenure as head of the CFPB had concluded. Director Chopra continued to work up until his resignation became public. Late Friday, the CFPB indicated further enforcement actions were… Read the rest
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:
…
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In the past two months the CFPB has worked overtime – literally – to reinforce its reputation as an agency of over-reach and unaccountability. Now, with no director and a new administration that has made it clear there will be a … Read the rest
AFSA congratulates Rep. French Hill(R-AR), on his election to the Chairmanship of the House Financial Services Committee. AFSA has worked with Representative Hill on a number of issues crucial to American consumers and the consumer credit… Read the rest
On January 29 the CFPB issued a report saying that U.S. military Servicemembers “pay higher costs and face greater financial risks” than their civilian neighbors when financing vehicles. This report insinuates that servicemembers are… Read the rest
On January 28, Elora Rayhan from AFSA’s State Government Affairs team testified at an Oregon committee hearing in opposition to OR HB 2561. This bill would opt-out the state from the Depository Institutions Deregulation and Monetary Control… Read the rest
AFSA is excited to support Representative Andy Barr’s reintroduction of his Taking Account of Bureaucrats’ Spending (TABS) Act. The TABS Act would bring the CFPB under congressional review and its budgetary process. Currently, the CFPB… Read the rest
Last week AFSA’s State Government Affairs team submitted testimony opposing Maryland HB 29 and Washington SB 5070, both of which seek to limit interchange fees on the gratuity and sales tax portions of electronic transactions. These … Read the rest
AFSA, along with many other trade associations, sent a letter this week to Senate Commerce Committee Chairman Ted Cruz (R-TX), Senate Commerce Committee Ranking Member Maria Cantwell (D-WA), House Energy and Commerce Chairman Brett Guthrie… Read the rest
