The Consumer Financial Protection Bureau (CFPB) has put its investigative and enforcement activities on hold amid an agency-wide review ordered by Treasury Secretary Scott Bessent. Bessent, who was tapped to lead the watchdog as an acting head, stated that the review aims to “promote consistency” with the new Trump administration.
The CFPB had been investigating and penalizing corporate wrongdoing under its previous leadership. However, with the change in administration, the agency’s priorities have shifted. The halt on investigations and enforcement actions is expected to impact consumers who are seeking redress for financial abuses.
It remains to be seen how the review will unfold and what implications it may have for the CFPB’s future operations.
Source: https://www.washingtonpost.com/business/2025/02/03/trump-cfpb-bessent-halt