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WASHINGTON – President-elect Joe Biden has chosen Rohit Chopra to be the next director of the Consumer Financial Protection Bureau, two sources told NBC News.
Chopra, a member of the Federal Trade Commission, helped launch the agency in 2011 and was previously its deputy director.
He is an ally of Senator Elizabeth Warren, D-Mass., Who proposed and built the consumer-focused agency. It is also supported by progressive groups. Bloomberg first reported the selection of Chopra.
Among those who applauded the move on Sunday were Randi Weingarten, head of the American Federation of Teachers, and the consumer organization Public Citizen, who called it “a fantastic choice that will take the agency back to its consumer-fighting days.”
At CFPB, Chopra worked on student loan issues and helped secure funds for people illegally targeted by debt collectors, for-profit colleges and others, according to her agency’s biography.
At the FTC, he “lobbied for aggressive remedies against companies that break the law, especially repeat offenders, and worked to reverse the FTC’s reliance on no-money, no-fault settlements,” his bio reads.
Geoff Bennett reported from Washington and Tim Stelloh from California.
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