Biden CFPB Pick Rohit Chopra Confirmed to Lead Consumer Watchdog
- Chopra expected to resume aggressive oversight at agency
- Student lending, overdraft fees are among key priorities
Rohit Chopra
Photographer: Stefani Reynolds/BloombergThis article is for subscribers only.
Rohit Chopra was officially confirmed as director of the Consumer Financial Protection Bureau, signaling a return to more aggressive oversight of financial services companies at the agency.
The U.S. Senate voted Thursday 50-48 to approve Chopra’s nomination on party lines. As CFPB director, he’ll face intense pressure from progressive Democrats, who expect him to revive the agency they say was put to sleep during the Trump administration. If he succeeds in turning the agency around, life may get less pleasant for banks, credit bureaus, credit-card companies and student and payday lenders.