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In his first official action as acting director of the Consumer Financial Protection Bureau (CFPB), Scott Bessent ordered staffers to stop bureau activities, including the issuance of final rules, settlement enforcement actions, or participation in legal cases.
Agency staffers have also been instructed to suspend the effective date of any final rules that have not yet gone into effect, according to reporting from Bloomberg and NPR.
Bessent, who was confirmed as Treasury Secretary last week, took over as Acting CFPB Director on Monday after President Donald Trump fired Director Rohit Chopra.
Citing confidential sources, Bloomberg reported that White House officials have not determined whether Bessent will lead the CFPB as acting director until a permanent director is found, or if he will hand off responsibilities to a new acting head.
NPR reported that Bessent instructed CFPB staff not to issue any communications of any type, including research papers.
HousingWire recently compiled a list detailing all of Trump’s actions that impact housing.
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