Washington – President-elect Joe Biden has chosen Rohit Chopra as 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 previously served as its assistant director.
He is an associate of Sen. Elizabeth Warren, D-Mass., Who proposed and created a consumer-focused agency. He is supported by progressive groups. Bloomberg first reported Chopra’s selection.
Among those who praised the move on Sunday Randy wengarten, Leader of the American Federation of Teachers and Consumer advocacy organization public citizen, Which called him a “brilliant pick who would really return the agency to its days of fighting for consumers.”
At the CFPB, Chopra worked on student loan issues and, according to his agency’s biography, helped to secure funds for those illegally targeted by loan takers, non-profit colleges and others.
At the FTC, he “pushed for aggressive measures against law-breaking companies, particularly repeat offenders, and acted to reverse the FTC’s dependence on settlements without money, mistake,” his biography states .
Geoff Bennett from California reported from Washington and Tim Steloh.