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California Reinvestment Coalition (CRC) applauds the U.S. Senate confirmation of Rohit Chopra as Director of the Consumer Financial Protection Bureau (CFPB). Chopra was confirmed 50 to 48 on Sept. 30.
CRC Executive Director Paulina Gonzalez-Brito offered the following comment:
“We applaud the Senate’s confirmation of Rohit Chopra. For far too long, consumers, particularly Black, Indigenous, and People of Color consumers, have been disproportionately harmed by the predation and abuses of large corporations. We have said in the past that the head of the CFPB needs to be someone willing to fight against predatory payday lenders, bad bank behavior, and lending discrimination. Chopra has a track record of protecting consumers from these harms. CRC and its members look forward to working with the CFPB to ensure that Wall Street, big banks, and the regulatory agencies that oversee them, are held accountable for operating in the best interest of all Californians. We also look forward to the CFPB moving forward with the critically needed section 1071 small business data collection rulemaking.
“We thank and appreciate the work of Acting Comptroller Dave Uejio in returning the CFPB to an agency focused on protecting consumers and fighting discrimination,” Gonzalez-Brito said.
The Consumer Financial Protection Bureau was established to enforce federal consumer financial laws and protect consumers.