Washington, DC — On Saturday, AP reported that President Trump fired Consumer Financial Protection Bureau Director Rohit Chopra. Over Chopra’s tenure, the CFPB has:
- Obtained more than $6.6 billion in consumer relief.
- Brought close to 100 enforcement actions and obtained more than $3.3 billion in civil penalties against law breakers, according to the CFPB’s website.
- Published dozens of rules to make the economic system work better for the public, and began work on several more. These include rules capping overdraft fees, giving you the right to take your payment data between banks to make comparison shopping easier, and curbing unfair methods of collecting medical debt. The bureau’s ongoing rulemaking to protect our privacy from data brokers is another potentially transformative effort begun under Chopra’s watch.
Emily Peterson-Cassin, Corporate Power Director at Demand Progress Education Fund, said:
“The president who took the oath of office while flanked by grinning, billionaire CEOs fired Rohit Chopra. You couldn’t script a more thuddingly obvious sign that we are now in a new era of oligarchy.
Chopra and his team at the CFPB have worked tirelessly to rein in corporate abuse and make government work for the people, not the powerful. His departure is a meaningful signal that we should expect ample handouts to billionaires and rampant, corporate law-breaking under a second Trump administration. We applaud now-former Director Chopra’s tenure and wish him the best. We will be ready to do whatever we can to make sure the upcoming director is held to the high standard Chopra set.”