Consumer Financial Protection Bureau shakeup: Chopra out, Bessent in charge
1 month, 2 weeks ago

Consumer Financial Protection Bureau shakeup: Chopra out, Bessent in charge

Salon  

The Consumer Financial Protection Bureau, a watchdog agency Republicans have tried to dismantle or significantly scale back, is the latest shakeup in Donald Trump's efforts to remake the federal government. Trump fired Rohit Chopra, the agency's director and a Biden appointee, over the weekend and installed Scott Bessent, a billionaire hedge fund manager who now serves as treasury secretary, as acting director. In recent months, Chopra led the CFPB to rein in credit card late fees and overdraft fees, along with "junk fees" hidden in hotel and event ticket bills. "We’re hopeful that Secretary Bessent will take into account the real-world ramifications regulations have on America’s leading banks, the millions of consumers they serve, and the economy as a whole," CBA president Lindsey Johnson said Monday.

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JPMorgan CEO Jamie Dimon calls Indian-origin US official Rohit Chopra an 'arrogant son-of-a-b***h'
1 month ago

JPMorgan CEO Jamie Dimon calls Indian-origin US official Rohit Chopra an 'arrogant son-of-a-b***h'

Hindustan Times  

Leaked audio from Jamie Dimon’s recent town hall with employees has gone viral, revealing his blunt stance on remote work. During the same meeting, he also criticised the Consumer Financial Protection Bureau – the US consumer watchdog agency previously shut down by Donald Trump – and its Indian-origin director, Rohit Chopra. For Trump, however, the agency is a hotbed of …

Consumer watchdog agency called ‘vicious’ by Trump seen as a ‘hero’ to many it aided
1 month, 1 week ago

Consumer watchdog agency called ‘vicious’ by Trump seen as a ‘hero’ to many it aided

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. “This is the core of consumer protection – …

Consumer watchdog agency called ‘vicious’ by Trump seen as a ‘hero’ to many it aided
1 month, 1 week ago

Consumer watchdog agency called ‘vicious’ by Trump seen as a ‘hero’ to many it aided

Associated Press  

NEW YORK — To President Donald Trump, it’s a hotbed of “waste, fraud and abuse” whose only purpose is to “destroy people” and whose staff amounts to a “vicious group.” To Jonathon Booth, it’s simply the agency that helped him get $17 back. “This is the core of consumer protection – someone willing to help with stuff that’s small enough …

Former CFPB Director Rohit Chopra discusses actions taken against the agency
1 month, 1 week ago

Former CFPB Director Rohit Chopra discusses actions taken against the agency

NPR  

Former CFPB Director Rohit Chopra discusses actions taken against the agency MICHEL MARTIN, HOST: The government agency that's supposed to protect Americans from financial abuse is more or less closed this morning. MARTIN: So for those who don't know what the CFPB does, can you give us one or two examples of the work of the agency? Whether it's a …

Trump’s New Budget Chief Orders Federal Financial Watchdog To Halt Operations
1 month, 1 week ago

Trump’s New Budget Chief Orders Federal Financial Watchdog To Halt Operations

Huff Post  

LOADING ERROR LOADING The lead architect of Project 2025 and recently appointed acting director for the Consumer Financial Protection Bureau has told the agency’s employees to essentially halt all operations ― the Trump administration’s latest move to roll back consumer protections against corporate giants. In a Saturday email obtained by several news outlets, Russell Vought ordered the federal financial industry …

Trump administration orders Consumer Financial Protection Bureau to stop work
1 month, 1 week ago

Trump administration orders Consumer Financial Protection Bureau to stop work

The Hindu  

The Trump administration has ordered the Consumer Financial Protection Bureau to stop nearly all its work, effectively shutting down an agency that was created to protect consumers after the 2008 financial crisis and subprime mortgage-lending scandal. The email also ordered the bureau to “cease all supervision and examination activity.” Also late Saturday, Vought said in a social media post that …

Trump administration pauses work of consumer watchdog and names Scott Bessent as acting head
1 month, 2 weeks ago

Trump administration pauses work of consumer watchdog and names Scott Bessent as acting head

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery Bessent issued a temporary pause on bureau activity while the …

Treasury Secretary Bessent, tapped to run CFPB, orders staff to halt work
1 month, 2 weeks ago

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

NPR  

Treasury Secretary Bessent, tapped to run CFPB, orders staff to halt work toggle caption J. Scott Applewhite/AP Scott Bessent, who was confirmed as Treasury secretary last week, has been named acting director of the Consumer Financial Protection Bureau. In an internal email shared with NPR, staff members were instructed to immediately cease much of the bureau's work, "unless expressly approved …

Donald Trump fires Rohit Chopra, CFPB director, in latest Biden administration purge
1 month, 3 weeks ago

Donald Trump fires Rohit Chopra, CFPB director, in latest Biden administration purge

Live Mint  

President Donald Trump has dismissed Rohit Chopra, the Director of the Consumer Financial Protection Bureau, marking another removal of a Biden administration official. Rohit Chopra's dismissal has drawn attention due to his close ties with Senator Elizabeth Warren, a prominent critic of Donald Trump. Warren praised Rohit Chopra's tenure, stating that he effectively worked to protect consumers from predatory practices …

Trump Fires The Director Of Consumer Financial Protection Bureau
1 month, 3 weeks ago

Trump Fires The Director Of Consumer Financial Protection Bureau

Huff Post  

LOADING ERROR LOADING PALM BEACH, Fla. — President Donald Trump has fired the director of the Consumer Financial Protection Bureau, Rohit Chopra, in the latest purge of a Biden administration holdover. In a social media post Saturday about his departure, Chopra thanked people across the country who “shared their ideas and experiences” with the government’s consumer financial watchdog agency. Consumer …

Trump fires the director of the Consumer Financial Protection Bureau
1 month, 3 weeks ago

Trump fires the director of the Consumer Financial Protection Bureau

Associated Press  

PALM BEACH, Fla. — President Donald Trump has fired the director of the Consumer Financial Protection Bureau, Rohit Chopra, in the latest purge of a Biden administration holdover. In a social media post Saturday about his departure, Chopra thanked people across the country who “shared their ideas and experiences” with the government’s consumer financial watchdog agency. “The longer Director Chopra …

Trump fires chief of the federal consumer watchdog agency
1 month, 3 weeks ago

Trump fires chief of the federal consumer watchdog agency

NPR  

Trump fires chief of the federal consumer watchdog agency toggle caption Andrew Harnik/AP The Trump administration has fired Rohit Chopra, the director of the Consumer Financial Protection Bureau. In a resignation letter posted on X, Chopra said watchdog agencies such as the CFPB work to enforce laws to "check the enormous influence that powerful firms have over our daily lives." …

Trump fires head of the Consumer Financial Protection Bureau
1 month, 3 weeks ago

Trump fires head of the Consumer Financial Protection Bureau

CNN  

New York CNN — President Donald Trump has fired Rohit Chopra, the director of the Consumer Financial Protection Bureau. They, alongside tech industry leaders, have encouraged Trump to remove Chopra from his role — which was made possible by a 2020 Supreme Court ruling that enabled presidents to fire CFPB directors. In his time at the CFPB, Chopra spearheaded controversial …

Scott Bessent, hedge fund billionaire, is Trump's treasury secretary
1 month, 3 weeks ago

Scott Bessent, hedge fund billionaire, is Trump's treasury secretary

Salon  

Scott Bessent will lead President Donald Trump's financial agenda as treasury secretary. Beyond developing Trump's tax policies and creating his administration's budgets, Bessent will play a key role in implementing tariffs, set to be imposed on imports from Mexico and Canada beginning Saturday. Bessent has been asked to review the viability of Trump's proposed “External Revenue Service” to collect tariff …

Trump rejects Elon Musk’s treasury secretary pick, names his own favorite instead
4 months ago

Trump rejects Elon Musk’s treasury secretary pick, names his own favorite instead

Hindustan Times  

Donald Trump has chosen hedge fund veteran Scott Bessent to serve as his Treasury Secretary, reports confirm. Musk publicly endorsed Howard Lutnick as a candidate who could bring about necessary change, contrasting Lutnick’s approach with Bessent's more traditional stance. FILE PHOTO: Key Square Group founder Scott Bessent speaks at a campaign event for Republican presidential nominee and former U.S. President …

Trump picks hedge fund billionaire Bessent to run Treasury
4 months ago

Trump picks hedge fund billionaire Bessent to run Treasury

Salon  

Donald Trump has nominated hedge fund manager Scott Bessent to lead the U.S. Treasury, ending speculation over who would hold the key economic position. In a statement posted to Truth Social on Friday, Trump championed Bessent as “one of the World's foremost International Investors.” “Scott will support my Policies that will drive U.S. Competitiveness, and stop unfair Trade imbalances, work …

Biden consumer watchdog pick signals more aggressive stance
4 years ago

Biden consumer watchdog pick signals more aggressive stance

Associated Press  

CHARLOTTE, N.C. — President Joe Biden’s nominee to run the federal consumer watchdog agency indicated Tuesday that if confirmed he would restore more aggressive enforcement actions against companies and banks that largely faded during the Trump administration. Rohit Chopra, currently a Democratic commissioner on the Federal Trade Commission, would be the third permanent director of the decade-old Consumer Financial Protection …

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