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

The Senate confirmed Scott Bessent as Treasury secretary on Monday, elevating the hedge fund manager to the new administration’s top financial job as President Donald Trump forges ahead on an ambitious economic agenda.

Bessent gave transphobic billionaire Elon Musk access to one of the most sensitive - and important - computer systems in the federal government.