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WASHINGTON: President-elect of the United States Joe biden on Monday appointed the American-Indian Rohit Chopra to the head of a federal agency charged with protecting the interests of financial consumers.
If confirmed by the Senate, Chopra would succeed Kathleen Laura Kraninger as Director of Consumer Financial Protection Bureau.
The office regulates the offering and provision of financial products or services to consumers under federal consumer finance laws and educates and empowers consumers to make more informed financial decisions.
Chopra is currently a commissioner with the Federal Trade Commission. He has actively advocated for the promotion of fair and competitive markets that protect honest families and businesses from abuse.
He was unanimously confirmed by the Senate in 2018, and he lobbied for aggressive remedies against companies that break the law, especially repeat offenders. Working with state and international law enforcement partners, it has worked to increase oversight of dominant technology companies that pose risks to privacy, national security and fair competition, said the transition.
Chopra previously served as Deputy Director of the Consumer Financial Protection Bureau, where he led the agency’s efforts on student loans. In 2011, the Treasury Secretary appointed him to the post of CFPB’s student loan ombudsman, a new post established in the financial reform law. He was also a special adviser to the US Department of Education.
In these roles, Chopra has led efforts to stimulate competition in the student loan financing market, develop new tools for students and student borrowers to make smarter decisions, and secure hundreds of millions of dollars in repayments. for borrowers victims of illegal behavior on the part of loan managers, debt collectors and for-profit university chains.
Chopra’s announcement came with Biden appointing several key administrative positions. These include Elizabeth Klein as Assistant Home Secretary; Dr. Jewel Bronaugh as Assistant Secretary of Agriculture; Andrea Palm as Assistant Secretary of Health and Social Services; Polly Trottenberg as Deputy Secretary of Transport; Cindy Marten as Under Secretary for Education; and Gary Gensler as chairman of the Securities and Exchange Commission.
“Our administration will be racing to bring immediate and urgent aid to the Americans; address the overlapping crises of COVID-19, the historic economic recession, racism and systemic inequalities, and the climate crisis; and that this government works for the people serves, ”Biden said.
“These tireless civil servants will be a key part of our agenda to build back better – and I am confident that they will help bring about meaningful change and move our country forward,” he said in a statement.
“To meet the unprecedented challenges facing the American people, we will need deeply experienced and knowledgeable leaders throughout our administration,” said the vice president-elect. Kamala harris.
“These remarkable officials reflect the best of our country and they will help us contain this pandemic, create an economy that works for workers, and rebuild our country in a way that uplifts all Americans. President-elect Biden and I are waiting with interest in working with them to achieve results for the American people, ”she said.
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