President Donald Trump has tasked Treasury Secretary Scott Bessent with serving as the acting director of the Consumer Financial Protection Bureau, the agency said Monday.

The secretary replaces Rohit Chopra, who had aggressively sought to expand the bureau’s authority over banks and other financial firms.

President Donald Trump appointed Treasury Secretary Scott Bessent the acting director of the Consumer Financial Protection Bureau, Bessent announced in a CFPB statement. Former Director Rohit Chopra posted a letter to Trump on social media platform X confirming that his term at the agency had "concluded.