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

Scott Bessent, president Donald Trump’s handpicked Treasury Secretary, put an end to the speculation during a Wednesday interview on Fox Business. The

In an email sent from acting director Scott Bessent, employees were told to pause all work related to issuing rules, enforcing regulations on rules that are not yet effective but approved, conducting investigations, and providing communications to the public, according to The Washington Post.