As Jeff noted, Treasury Secretary Bessent is now serving as Acting Director of the CFPB.
Bloomberg Law reports he has directed Bureau staff to “stop all rulemaking, communications, litigation, and other activities” unless required by law.
The Fifth Circuit was scheduled to hear arguments today on industry’s wide-ranging challenge to the agency’s regulation of credit card late fees. This morning, CFPB lawyers filed an “emergency notice” indicating they would not be presenting any argument.