Source: The American Prospect
by David Dayen
“On Saturday, Consumer Financial Protection Bureau director Rohit Chopra, who for two weeks had been hanging on as head of the agency despite clear Supreme Court guidance that directors served at the pleasure of the president, was fired. By Monday, President Trump had named a replacement: Scott Bessent, the current Treasury Secretary. Bessent immediately froze all rulemaking, litigation, guidance, enforcement actions, and even public communications upon taking the role, in order to ‘promote consistency with the goals of the Administration.’ Other than activities that have to move forward by law, the agency is pretty much shut down, pending a review with no defined timeline. In the grand scheme of unlawful actions taken over the past few days, this development trends a little closer to whatever you might call normal these days.” (02/04/25)
https://prospect.org/economy/2025-02-04-nothing-normal-about-this-cfpb-takeover/