FTC's Chopra Gets Biden Nod To Become Next CFPB Director

Law360 (January 18, 2021, 4:25 PM EST) -- President-elect Joe Biden said Monday that he plans to nominate Rohit Chopra, a Democratic member of the Federal Trade Commission, as the next director of the Consumer Financial Protection Bureau, a selection that consumer advocates are welcoming as a sign of tougher industry scrutiny ahead.

If confirmed, Chopra, who helped set up the CFPB in its early days and served until 2015 as its first student loan ombudsman, would succeed Kathleen Kraninger, a Trump appointee who has led the consumer watchdog agency since late 2018.

Although her term does not expire until 2023, a U.S. Supreme Court decision last year cleared the...

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