New CFPB director Bessent orders agency to stop working

Housingwire, February 3, 2025, New CFPB director Bessent orders agency to stop working

The Trump administration’s move to stop the CFPB’s work “means inviting scammers and swindlers into working families’ bank accounts,” said Jesse Van Tol, President and CEO of the National Community Reinvestment Coalition. “It means instability, uncertainty and exposure. Chaos only benefits bad actors. I urge Secretary Bessent to restore this key regulator and watchdog to active duty swiftly.”