Consumer financial protection was a joke under Trump. Rohit Chopra could turn it around in a big way

1 month ago 12

Another of President Biden’s very well-chosen Day One firings (or forced resignations) of highly partisan, unqualified Trump appointees was Kathy Kraninger, the head of the Consumer Financial Protection Bureau. Kraninger had no background in consumer protection, which was fine since she was not put in the job to protect consumers. She quickly gutted a crackdown on payday lenders and protections against predatory lending for military families. 

Biden’s pick for Kraninger’s replacement is one of his most exciting nominations. If confirmed, Rohit Chopra could turn things around in a big way. Chopra was hired by Elizabeth Warren to work on student loan issues at the CFPB under President Obama and is now on the Federal Trade Commission. 

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