President Trump terminated Rohit Chopra, the director of the Consumer Financial Protection Bureau (CFPB), despite him being appointed by Biden in 2021. Chopra's aggressive enforcement of consumer laws, targeting junk fees and overseeing significant fines against banks like Wells Fargo, drew attention during his tenure. His firing surprised many, especially given recent governmental purges. Following his dismissal, the CFPB will be temporarily led by deputy director Zixta Martinez until a new acting leader is chosen. The CFPB, established post-2008 financial crisis, faces ongoing resistance from Republican factions and financial institutions.
The news comes a few weeks after inauguration day, with many surprised that Chopra outlasted President Trump's initial government firing sweep.
During his tenure, Chopra was known for his aggressive approach to enforcing consumer protection laws, particularly targeting junk and overdraft fees.
Collection
[
|
...
]