Public Citizen Welcomes Newly Confirmed Consumer Protection Sheriff
WASHINGTON, D.C. – The U.S. Senate today confirmed Rohit Chopra to lead the U.S. Consumer Protection Finance Bureau (CFPB), the brainchild of then-professor Elizabeth Warren, created in the aftermath of the Great Recession to ensure that a single agency was focused on protecting consumers in the financial sector.
“The Trump administration attempted to turn the CFPB into an agency more interested in protecting loan sharks and predatory lenders than hardworking consumers,” said Lisa Gilbert, executive vice president of Public Citizen. “We welcome the return of an experienced consumer advocate to lead the agency and work on behalf of consumers.”
“With the pandemic straining the finances of low-income Americans, a fully functioning CFPB headed by a proven champion of those too often abused by Wall Street is more important than ever,” said Bartlett Naylor, financial policy advocate for Public Citizen.