President Donald Trump has tasked Treasury Secretary Scott Bessent with serving as the acting director of the Consumer Financial Protection Bureau, the agency said Monday.

In its 14 years, the CFPB has created rules limiting credit card late fees and overdraft penalties, protected consumers from unfair lending practices, and much more. Here’s what might happen

The secretary replaces Rohit Chopra, who had aggressively sought to expand the bureau’s authority over banks and other financial firms.