The Senate Thursday confirmed Rohit Chopra to be the next director of the Consumer Financial Protection Bureau (CFPB). Chopra comes to the CFPB from the Federal Trade Commission where he was a commissioner. He previously served as assistant director and student loan ombudsman at the CFPB.
“We congratulate Mr. Chopra on his confirmation and look forward to engaging with him soon on credit unions’ track-record of providing consumer-friendly financial services,” said CUNA President/CEO Jim Nussle. “We hope under Director Chopra’s leadership, credit unions and the CFPB can work together to ensure consumers continue to have safe and affordable access to credit, financial products, and services provided by credit unions.”
CUNA continues to support legislation that would replace the single director of the CFPB with a bipartisan five-member commission, especially in light of the U.S. Supreme Court decision that found the director is removable at will by the president.