CFPB Director nominee, Rohit Chopra, testifies about his potential regulatory and enforcement priorities in Senate Hearing. President Biden tapped Rohit Chopra, currently the FTC Commissioner, as his nominee to serve as the Consumer Finance Protection Bureau’s (CFPB) Director. During his nomination hearing in front of the United States Senate Committee on Banking, Housing, and Urban Affairs, Chopra testified about his potential regulatory and enforcement priorities as head of the consumer finance regulator. In his prepared statement, Chopra acknowledged the widespread and lasting effects of the global pandemic and highlighted particular concerns for the housing market. During the hearing, Chopra spoke about the economic crisis from a decade ago and “how unlawful and avoidable foreclosures proved to be catastrophic in cities, small towns, and rural areas alike, contributing to deeper social divisions and inequities.” He also mentioned that if confirmed, he would focus on fair lending. Chopra also answered questions about Fintech, credit reporting, the housing market and other topics. See his full testimony here.
