Rohit Chopra
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Rohit Chopra | Federal Trade Commission
Gensler and Chopra are both allies of Massachusetts Sen. Elizabeth Warren. Currently a member of the Federal Trade Commission, Chopra will — if confirmed — return to the CFPB, where he previously worked as its top student loan watchdog. The nomination of Gensler, a former Goldman Sachs executive turned ferocious advocate for stricter regulation on big banks, is a signal that Biden’s team is poised to take a harder line with Wall Street than previous administrations.The choices are a victory for the Democratic Party’s progressive wing, which has led the charge for more aggressive oversight of the financial industry. Chopra was in on the ground floor with Warren, who built the CFPB as part of the Dodd-Frank law passed in response to the 2008 financial crisis. Gensler worked in the Obama administration for a time as the chairman of the Commodity Futures Trading Commission, where he earned a reputation as a hardliner on regulatory matters.
2021-01-17 Biden taps Warren ally Chopra to lead Consumer Bureau If confirmed, Chopra, now a member of the Federal Trade Commission, would be returning to helm an agency he helped Warren set up after its establishment by the landmark Dodd-Frank financial reform law of 2010.
2021-01-17 Biden picks Rohit Chopra to lead consumer protection agency Chopra, a member of the Federal Trade Commission, helped launch the agency in 2011 and previously served as its assistant director.
He is an ally of Sen. Elizabeth Warren, D-Mass., who proposed and built the consumer-focused agency. He is also backed by progressive groups. Bloomberg first reported Chopra’s selection. Among those who applauded the move Sunday were Randi Weingarten, leader of the American Federation of Teachers, and the consumer advocacy organization Public Citizen, which called him a “fantastic pick who will return the agency to its days of actually fighting for consumers.”
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2021-01-22 The Chopra Gambit On Monday, President Biden announced his intention to name Federal Trade Commissioner Rohit Chopra as the Consumer Financial Protection Bureau’s next director, earning a rare, unqualified cheer from the party’s left flank. Despite serving in the minority on the FTC, Chopra has managed to have a ground-shaking impact, earning a reputation for skillful and creative maneuvering. It is encouraging to see his dogged work for the public interest rewarded and the CFPB land in such capable hands. Just elevating Chopra, however, is not enough. If Democrats are serious about good governance and building their party’s power, they must look to the institutional features that provided Chopra with a platform and honed his governing skills so that, moving forward, he is not such a lonely figure.
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