Here’s some fantastic news.  After firing hyper-regulator Rohit Chopra over the weekend, President Trump gave Treasury Secretary Scott Bessent another hat and made him acting director of the CFPB.

Bessent immediately issued an agency-wide email that said:

In order to promote consistency with the goals of the administration, effective immediately, unless expressly approved by the acting director or required by law, all employees, contractors and other personnel of the Bureau are directed:

• • • Not to approve or issue any proposed or final rules or formal or informal guidance
    • To suspend the effective dates of all final rules that have been issued or published but that have not yet become effective
    • Not to commence, take additional investigative activities related to, or settle enforcement actions
    • Not to issue public communications of any type, including publication of research papers
    • Not to approve or execute any material agreements, including related to employee matters or contractors
    • Not to make or approve filings or appearances by the Bureau in any litigation, other than to seek a pause in proceedings.

This is all music to our ears, but what would really bring a smile to our faces would be if Trump would close the damn thing down entirely. Consumers did fine for 200 years without CFPB snoops.