On February 6, Democratic Senator Elizabeth Warren wrote a letter to Trump urging him to support the Consumer Financial Protection Bureau (CFPB) efforts to prevent banks from unreasonably closing accounts. She warned that trying to weaken CFPB would only exacerbate the problem. The Trump administration fired Chief Rohit Chopra and appointed Scott Bessent, who supported cryptocurrency, as acting director, who has suspended some of the regulatory activities. Warren stressed that the issue was bipartisan and mentioned Trump’s criticism of Bank of America and JPMorgan for restricting business dealings in specific clients at the Davos Forum. At a Senate Banking Committee hearing, Anchorage Digital CEO Nathan McCauley said his company had been closed for bank accounts due to crypto operations and had difficulty finding a new partner bank. The Bank Policy Institute responded that banks must manage risks and meet regulatory requirements and recommended repair of the regulatory structure.