‘Aggressive’ Regulator To Lead US Consumer Watchdog

The Senate cleared Rohit Chopra to lead the Consumer Financial Protection Bureau

Adviser talking with client in bank

miodrag ignjatovic/Getty Images

The government is getting a new top consumer watchdog after the Senate cleared the way for Rohit Chopra to lead the Consumer Financial Protection Bureau.

Democratic senators confirmed Chopra in a 50-48 party line vote Thursday over the objections of Republicans who said Chopra would “overreach” and politicize the agency. He currently serves as a commissioner of the Federal Trade Commission, where he earned praise from the administration of President Joe Biden for his “aggressive” tactics against companies accused of wrongdoing. Before joining the FTC in 2018, Chopra was assistant director of the CFPB, leading  efforts to regulate student loans. 

When Biden nominated Chopra in January, consumer groups said the pick signaled the CFPB was going to crack down on corporate misconduct after its business-friendly turn under President Donald Trump. The bureau has already taken a more assertive stance under acting director David Uejio, rolling back several Trump-era rules.

Have a question, comment, or story to share? You can reach Diccon at dhyatt@thebalance.com.

Article Sources