Neeraj Singh joins the Buffalo, New York-based bank after a four-year stint at USAA, which has seen an exodus of top executives. The megabank is simplifying the management structure of its private bank. Regional leaders will now report directly to Andy Sieg, head of wealth.

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

Scott Bessent, the Treasury Secretary, has been tapped by President Trump to be acting director of the Consumer Financial Protection Bureau. Bessent is seen here at the Capitol in Washington last month. Scott Bessent, who was confirmed as Treasury Secretary last week, has been named acting director of the Consumer Financial Protection Bureau.