Rohit Chopra testifies during a hearing of the Senate Committee on Commerce, Science and Transport on February 14, 2018.
Tom Williams | CQ Appeal, Inc. | Getty Images
President-elect Joe Biden has elected 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 found 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-centric agency. He is also supported by progressive groups. Bloomberg reported first Chopra’s selection.
Among those who applauded the parade on Sunday were Randi Weingarten, Leader of the American Federation of Teachers, and the Public Citizen consumer protection organizationwhat called him “a fantastic choice that will take the agency back to its days of real consumer struggle”.
At CFPB, Chopra worked on student loan issues and helped secure funding for individuals unlawfully attacked by debt collection agencies, nonprofit colleges, and others. according to his agency biography.
At the FTC, “he has pushed for aggressive remedial action against illegal corporations, particularly repeat offenders, and has worked to reverse the FTC’s confidence in no-money and no-mistake settlements,” his biography says.