Trump Fires Rohit Chopra From Consumer Protection Bureau

India-West News Desk

WASHINGTON, DC -Rohit Chopra has been removed as Director of the Consumer Financial Protection Bureau (CFPB), ending his five-year term nearly two years early. He was informed of his dismissal via an email from the White House.

Chopra was appointed by former President Joe Biden to lead the CFPB, an agency he helped establish following the 2008-09 financial crisis. As the bureau’s deputy director, he played a pivotal role in highlighting rising student loan debt and advocating for consumer protection reforms.

Major consumer banks including Bank of America and JPMorgan Chase are among companies facing lawsuits from the CFPB. They, alongside tech industry leaders, encouraged Trump to remove Chopra from his role, several media outlets reported.

Before heading the CFPB, Chopra served as a Commissioner on the Federal Trade Commission (FTC) from 2018 to 2021, after being nominated by former President Donald Trump. At the FTC, he pushed for stricter penalties against repeat offenders, opposed no-money, no-fault fraud settlements, and worked to strengthen the “Made in USA” label and fair competition policies.

Chopra’s career in consumer protection dates back to his initial tenure at the CFPB from 2010 to 2015. In 2011, he was designated as the agency’s first student loan ombudsman by the Secretary of the Treasury, where he focused on student lending issues.

In a letter following his dismissal, Chopra reflected on his tenure, writing, “It has been an extraordinary privilege to serve as Director of the Consumer Financial Protection Bureau and as a Member of the Board of Directors of the Federal Deposit Insurance Corporation since 2021, as well as to serve as a Commissioner on the Federal Trade Commission from 2018 to 2021. I am grateful to both President Biden and President Trump for nominating me and to the United States Senate for confirming me to these positions.”

Before entering public service, Chopra worked at McKinsey & Company, specializing in financial services, healthcare, and consumer technology sectors. He holds a BA from Harvard University and an MBA from the Wharton School at the University of Pennsylvania.