CFPB Director Rohit Chopra was dismissed by President Donald Trump, a move that drew mixed reactions. Chopra had gained acclaim from consumer advocates and frustration from Wall Street due to his success in recouping more than $6 billion for American consumers. He shared his thoughts on social media, thanking the public for their input in holding corporations accountable. In his parting letter, Chopra defended the CFPB's role in ensuring financial accountability, citing the lessons learned from the 2008 financial crisis and the need to enforce laws effectively.
Every day, Americans from across the country shared their ideas and experiences with us. You helped us hold powerful companies and their executives accountable for breaking the law.
The 2008 financial crisis made Americans question whether regulators and law enforcement would hold companies accountable, especially since the firms behind the crash only got larger.
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