WASHINGTON, DC -Rohit Chopra has been removed as Director of the Consumer Financial Protection Bureau (CFPB), ending his five-year term nearly two years early. He was informed of his dismissal via an email from the White House.

In a familiar move, President Donald Trump has designated the current head of another executive agency, this time newly sworn in Secretary of the Department of the Treasury Scott Bessent to simultaneously lead the Consumer Financial Protection Bureau (CFPB) in an acting capacity.

Rohit Chopra, head of the top U.S. watchdog agency for consumer finance, announced early Saturday his time in office had ended after President Donald Trump fired him overnight, according to a letter Chopra posted online and a person familiar with the situation.

Chopra, a Sen. Elizabeth Warren protege, was a surprising holdover from the Biden administration, given that many appointees resigned as Trump entered office.

During Trump's first term, the Republican had picked Chopra as a Democratic member of the Federal Trade Commission.

Rohit Chopra was one of the more important regulators from the previous Democratic administration who was still on the job since President Trump took office on Jan. 20.

The change in leadership could portend radical changes at one of the nation’s most powerful consumer watchdog agencies.

Treasury Secretary Scott Bessent is now the acting head of the US Consumer Financial Protection Bureau, according to a person familiar with the matter, signaling a potential shift away from the aggressive enforcement and regulatory approach under Rohit Chopra.