- President Trump announced his appointment of Treasury Secretary Scott Bessant as acting director of the CFPB, replacing former director Rohit Chopra.
- Secretary Bessant, a former hedge-fund manager, was confirmed as head of the Treasury Department on January 27, 2025.
- Under director Chopra, the CFPB focused recent regulatory and enforcement efforts on issues such as open banking standards; impacts of medical debt on credit reporting; overdraft fee opt-in agreements; cash-back fees; and tracking of nonbank financial firms that are subject to enforcement orders for violating consumer protection laws.