diff --git a/app/javascript/controllers/rule/actions_controller.js b/app/javascript/controllers/rule/actions_controller.js
index f4de40eb..0ca8a252 100644
--- a/app/javascript/controllers/rule/actions_controller.js
+++ b/app/javascript/controllers/rule/actions_controller.js
@@ -3,7 +3,12 @@ import { Controller } from "@hotwired/stimulus";
 // Connects to data-controller="rule--actions"
 export default class extends Controller {
   static values = { actionExecutors: Array };
-  static targets = ["destroyField", "actionValue"];
+  static targets = [
+    "destroyField",
+    "actionValue",
+    "selectTemplate",
+    "textTemplate"
+  ];
 
   remove(e) {
     if (e.params.destroy) {
@@ -19,38 +24,67 @@ export default class extends Controller {
       (executor) => executor.key === e.target.value,
     );
 
+    // Clear any existing input elements first
+    this.#clearFormFields();
+
     if (actionExecutor.type === "select") {
-      this.#updateValueSelectFor(actionExecutor);
-      this.#showAndEnableValueSelect();
+      this.#buildSelectFor(actionExecutor);
+    } else if (actionExecutor.type === "text") {
+      this.#buildTextInputFor();
     } else {
-      this.#hideAndDisableValueSelect();
+      // Hide for any type that doesn't need a value (e.g. function)
+      this.#hideActionValue();
     }
   }
 
-  get valueSelectEl() {
-    return this.actionValueTarget.querySelector("select");
-  }
-
-  #showAndEnableValueSelect() {
-    this.actionValueTarget.classList.remove("hidden");
-    this.valueSelectEl.disabled = false;
-  }
-
-  #hideAndDisableValueSelect() {
+  #hideActionValue() {
     this.actionValueTarget.classList.add("hidden");
-    this.valueSelectEl.disabled = true;
   }
 
-  #updateValueSelectFor(actionExecutor) {
-    // Clear existing options
-    this.valueSelectEl.innerHTML = "";
+  #clearFormFields() {
+    // Remove all children from actionValueTarget
+    this.actionValueTarget.innerHTML = "";
+  }
 
-    // Add new options
-    for (const option of actionExecutor.options) {
-      const optionEl = document.createElement("option");
-      optionEl.value = option[1];
-      optionEl.textContent = option[0];
-      this.valueSelectEl.appendChild(optionEl);
+  #buildSelectFor(actionExecutor) {
+    // Clone the select template
+    const template = this.selectTemplateTarget.content.cloneNode(true);
+    const selectEl = template.querySelector("select");
+
+    // Add options to the select element
+    if (selectEl) {
+      selectEl.innerHTML = "";
+      if (!actionExecutor.options || actionExecutor.options.length === 0) {
+        selectEl.disabled = true;
+        const optionEl = document.createElement("option");
+        optionEl.textContent = "(none)";
+        selectEl.appendChild(optionEl);
+      } else {
+        selectEl.disabled = false;
+        for (const option of actionExecutor.options) {
+          const optionEl = document.createElement("option");
+          optionEl.value = option[1];
+          optionEl.textContent = option[0];
+          selectEl.appendChild(optionEl);
+        }
+      }
     }
+
+    // Add the template content to the actionValue target and ensure it's visible
+    this.actionValueTarget.appendChild(template);
+    this.actionValueTarget.classList.remove("hidden");
+  }
+
+  #buildTextInputFor() {
+    // Clone the text template
+    const template = this.textTemplateTarget.content.cloneNode(true);
+
+    // Ensure the input is always empty
+    const inputEl = template.querySelector("input");
+    if (inputEl) inputEl.value = "";
+
+    // Add the template content to the actionValue target and ensure it's visible
+    this.actionValueTarget.appendChild(template);
+    this.actionValueTarget.classList.remove("hidden");
   }
 }
diff --git a/app/models/rule/action_executor.rb b/app/models/rule/action_executor.rb
index 807e6cea..4a9a1185 100644
--- a/app/models/rule/action_executor.rb
+++ b/app/models/rule/action_executor.rb
@@ -1,5 +1,5 @@
 class Rule::ActionExecutor
-  TYPES = [ "select", "function" ]
+  TYPES = [ "select", "function", "text" ]
 
   def initialize(rule)
     @rule = rule
diff --git a/app/models/rule/action_executor/set_transaction_name.rb b/app/models/rule/action_executor/set_transaction_name.rb
new file mode 100644
index 00000000..39f3ee26
--- /dev/null
+++ b/app/models/rule/action_executor/set_transaction_name.rb
@@ -0,0 +1,29 @@
+class Rule::ActionExecutor::SetTransactionName < Rule::ActionExecutor
+  def type
+    "text"
+  end
+
+  def options
+    nil
+  end
+
+  def execute(transaction_scope, value: nil, ignore_attribute_locks: false)
+    return if value.blank?
+
+    scope = transaction_scope
+    unless ignore_attribute_locks
+      scope = scope.enrichable(:name)
+    end
+
+    scope.each do |txn|
+      Rule.transaction do
+        txn.entry.log_enrichment!(
+          attribute_name: "name",
+          attribute_value: value,
+          source: "rule"
+        )
+        txn.entry.update!(name: value)
+      end
+    end
+  end
+end
diff --git a/app/models/rule/registry/transaction_resource.rb b/app/models/rule/registry/transaction_resource.rb
index 628d8cde..15aae288 100644
--- a/app/models/rule/registry/transaction_resource.rb
+++ b/app/models/rule/registry/transaction_resource.rb
@@ -15,7 +15,8 @@ class Rule::Registry::TransactionResource < Rule::Registry
     enabled_executors = [
       Rule::ActionExecutor::SetTransactionCategory.new(rule),
       Rule::ActionExecutor::SetTransactionTags.new(rule),
-      Rule::ActionExecutor::SetTransactionMerchant.new(rule)
+      Rule::ActionExecutor::SetTransactionMerchant.new(rule),
+      Rule::ActionExecutor::SetTransactionName.new(rule)
     ]
 
     if ai_enabled?
diff --git a/app/views/rule/actions/_action.html.erb b/app/views/rule/actions/_action.html.erb
index f41e4857..ed126cfd 100644
--- a/app/views/rule/actions/_action.html.erb
+++ b/app/views/rule/actions/_action.html.erb
@@ -2,7 +2,6 @@
 
 <% action = form.object %>
 <% rule = action.rule %>
-<% needs_value = action.executor.type == "select" %>
 
 <li data-controller="rule--actions" data-rule--actions-action-executors-value="<%= rule.action_executors.to_json %>" class="flex items-center gap-3">
   <%= form.hidden_field :_destroy, value: false, data: { rule__actions_target: "destroyField" } %>
@@ -12,10 +11,13 @@
       <%= form.select :action_type, rule.action_executors.map { |executor| [ executor.label, executor.key ] }, {}, data: { action: "rule--actions#handleActionTypeChange" } %>
     </div>
 
-    <%= tag.div class: class_names("min-w-1/2 flex items-center gap-2", "hidden" => !needs_value),
+    <%= tag.div class: class_names("min-w-1/2 flex items-center gap-2"),
                 data: { rule__actions_target: "actionValue" } do %>
+      <%# Initial rendering based on rule.action_executors.first from the rule form. %>
+      <%# This is currently always SetTransactionCategory from transaction_resource.rb, which is a select type. %>
+      <%# Subsequent renders are injected by the Stimulus controller, which uses the templates from below. %>
       <span class="font-medium uppercase text-xs">to</span>
-      <%= form.select :value, action.options || [], {}, disabled: !needs_value %>
+      <%= form.select :value, action.options || [], {} %>
     <% end %>
   </div>
 
@@ -24,4 +26,17 @@
     size: "sm",
     as_button: true,
     data: { action: "rule--actions#remove", rule__actions_destroy_param: action.persisted? }) %>
+    
+  <%# Templates for different input types - these will be cloned and used by the Stimulus controller %>
+  <template data-rule--actions-target="selectTemplate">
+    <span class="font-medium uppercase text-xs">to</span>
+    <%= form.select :value, [], {} %>
+  </template>
+  
+  <template data-rule--actions-target="textTemplate">
+    <span class="font-medium uppercase text-xs">to</span>
+    <%= form.text_field :value, placeholder: "Enter a value" %>
+  </template>
+
+  <%# The function type doesn't need an input, so no template is required.%>
 </li>
diff --git a/test/models/rule/action_test.rb b/test/models/rule/action_test.rb
index 61ee6425..624849fc 100644
--- a/test/models/rule/action_test.rb
+++ b/test/models/rule/action_test.rb
@@ -79,4 +79,25 @@ class Rule::ActionTest < ActiveSupport::TestCase
       assert_equal merchant.id, transaction.reload.merchant_id
     end
   end
+
+  test "set_transaction_name" do
+    new_name = "Renamed Transaction"
+
+    # Does not modify transactions that are locked (user edited them)
+    @txn1.lock!(:name)
+
+    action = Rule::Action.new(
+      rule: @transaction_rule,
+      action_type: "set_transaction_name",
+      value: new_name
+    )
+
+    action.apply(@rule_scope)
+
+    assert_not_equal new_name, @txn1.reload.entry.name
+
+    [ @txn2, @txn3 ].each do |transaction|
+      assert_equal new_name, transaction.reload.entry.name
+    end
+  end
 end