CBA Statement on Treasury Secretary Bessent Serving as Acting CFPB Director
WASHINGTON, D.C. – Consumer Bankers Association (CBA) President and CEO Lindsey Johnson issued the following statement on Treasury Secretary Scott Bessent serving as Acting Director of the Consumer Financial Protection Bureau (CFPB):
“On behalf of America’s leading retail banks, we’re pleased to see Secretary Bessent assume the role of CFPB Director on an acting basis.
“As an accomplished businessman, we’re hopeful that Secretary Bessent will take into account the real-world ramifications regulations have on America’s leading banks, the millions of consumers they serve, and the economy as a whole.
“There are a number of immediate actions Secretary Bessent can take to rescind the partisan policies the former CFPB Director has taken that adversely affect consumers, and we stand ready to work with him to reset the CFPB.
“We look forward to seeing who President Trump will choose to lead the CFPB on a permanent basis to restore trust and durability to the Bureau.”
Reforming the CFPB Into a Strong and Durable Regulator Americans Deserve
CBA recently released a new white paper – “Reforming the CFPB Into a Strong and Durable Regulator Americans Deserve” – outlining immediate and long-term actions the new Administration could act upon and, separately, legislation for the 119th Congress to prioritize to transform the Bureau to better serve American consumers. To read the key takeaways from the white paper, click HERE. To read the full white paper, click HERE.
The white paper follows the release of CBA’s Vision for America policy agenda released last Fall ahead of the 2024 election.
