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69 March 2025 J O U R N A L March 2025 » when he found out about his dismissal from the role. "Every day, Americans from across the country shared their ideas and experiences with us. You helped us hold powerful companies & their executives accountable for break- ing the law, and you made our work better. Thank you." Chopra wrote a letter to President Trump, "That's what agencies like the CFPB work to fix: to make sure that the laws of the land aren't just words on a page. Those laws are intended to check the enormous inf luence that powerful firms have over our daily lives. With so much power concentrated in the hands of a few, agencies like the CFPB have never been more critical." Bessent is a Yale graduate and former Chief Investment Officer for Soros Fund Management, the hedge fund founded by George Soros in 1970, Bessent serves as CEO and Chief Investment Officer for Key Square Cap- ital Management, a New York-based investment partnership that he founded in 2015. From 1991-2000, Bessent was Managing Partner of Soros Fund Man- agement's London office, including the period of the British Pound devalua- tion. He was previously associated with Brown Brothers Harriman, The Olayan Group, Kynikos Associates, and Protégé Partners. From 2006-2010, Bessent was an Adjunct Professor at Yale University, where he taught economic history. He is profiled in the book on macro inves- tors, Inside the House of Money, and is featured in Sebastian Mallaby's history of hedge funds, More Money Than God. In 2017, Bessent published two arti- cles in The International Economy mag- azine: one on the suppressing effects of low real interest rates on volatility, and one discussing whether other countries are at risk for "Japan Disease." This summer, he wrote a piece refuting Larry Summers's assertion that central banks, especially the Federal Reserve, are unprepared for the next economic downturn. The CFPB is a government agency that implements and enforces federal consumer financial law and ensures that markets for consumer financial products are fair, transparent, and competitive. RODNEY HOOD NAMED ACTING COMPTROLLER OF THE OCC T he U.S. Department of the Treasury has announced the appointment of Rodney E. Hood as Acting Comptroller of the Currency (OCC). U.S. Secretary of the Treasury Scott Bessent designated Hood for the role. "The strong leadership and ca- reer experience of Rodney Hood will strengthen the OCC's efforts to ensure the safety and soundness of the banking system while also enhancing economic growth," Secretary Bessent said. The OCC is a bureau within the Department of the Treasury, and the Comptroller of the Currency is appoint- ed by the President with the advice and consent of the Senate. By statute (12 U.S.C. § 4), the Treasury Secretary is responsible for appointing up to four Deputy Comptrollers of the Currency and designating one as the First Deputy Comptroller. During a vacancy in the position of Comptroller, the First Deputy Comptroller possesses the powers and performs the duties of the Office of Comptroller. "I am grateful for the trust of Secre- tary Bessent and will work diligently to promote a regulatory environment that is effective without being excessive," Hood said. "I remain committed to a balanced framework—one that fosters innovation, expands financial inclusion, and ensures that all Americans have fair access to the financial services they need to thrive. I look forward to leading the dedicated career staff at the OCC, whose expertise and commitment are essential to maintaining a safe and sound banking system." Hood was previously confirmed by the U.S. Senate in 2005 and again in 2019 to serve on the National Credit Union Administration Board (NCUA). In 2019, President Donald J. Trump designated him as Chairman of the NCUA Board, "Every day, Americans from across the country shared their ideas and experiences with us. You helped us hold powerful companies & their executives accountable for breaking the law, and you made our work better. Thank you." —Rohit Chopra, former Director of the CFPB