WASHINGTON, D.C. – News reports indicate President-elect Joe Biden will nominate Rohit Chopra to be the next director of the Consumer Financial Protection Bureau (CFPB). Robert Weissman, president of Public Citizen and executive vice president, Lisa Gilbert, released the following statement in response:
“Financial predators, watch out. Rohit Chopra has proven himself a dedicated consumer champion and passionate defender of Main Street Americans against corporate wrongdoing. He will be an extraordinary director of the Consumer Financial Protection Bureau.
“Consumers can rest just a little bit easier knowing that the Consumer Financial Protection Bureau will not just be on their side, but aggressively establishing rules to stop ripoffs and enforcing the rules against financial cheats and scamsters.
“At a time when the nation is facing a racial justice reckoning, it’s worth being explicit that financial predators disproportionately impact – and not infrequently deliberately target – Black and Brown communities. Chopra’s appointment is great news for all consumers, but especially for people of color.”