President-elect Joe Biden has chosen Rohit Chopra to be the next director of the Consumer Financial Protection Bureau, reports claim.
An ally of Sen Elizabeth Warren, Chopra is a member of the Federal Trade Commission and helped launch the agency in 2011, previously serving as its assistant director. He went on to become the assistant director of the Consumer Financial Protection Bureau, where he led the agency's effort on student loans. He now serves as a commissioner on the Federal Trade Commission.
Backed by Progressive Groups, Chopra would replace Kathy Kraninger, a Trump-appointed official who has run the bureau since 2018. He remains to be confirmed by the Senate.
Biden's transition team said Indian-American Rohit Chopra, “Has actively advocated to promote fair, competitive markets that protect families and honest businesses from abuses.”
"Commissioner Chopra was unanimously confirmed by the Senate in 2018, and he has pushed for aggressive remedies against lawbreaking companies, especially repeat offenders," it added.
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