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President-elect Joe Biden speaks at an event at the Queen Theater, Friday, Jan.15, 2021, in Wilmington, Del.
Matt Slocum | AP
President-elect Joe Biden is set to appoint Rohit Chopra as director of the Consumer Financial Protection Bureau, bringing in a progressive ally of Senator Elizabeth Warren to lead the agency she championed creation.
Chopra, a commissioner at the Federal Trade Commission, helped launch the agency after the 2008 financial crisis and served as deputy director, where he sounded the alarm on skyrocketing student debt levels . The choice comes as Democrats look for ways to provide student loan relief to millions of Americans as part of a Covid-19 relief program.
Biden announced the move on Monday, as well as his intention to appoint Gary Gensler, former chairman of the Commodity Futures Trading Commission, as the next chairman of the Securities and Exchange Commission. Gensler, a former Goldman Sachs banker, stepped up oversight of the complex financial transactions that helped trigger the Great Recession.
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