Rohit Chopra, appointed by President Biden, is still the director of the Consumer Financial Protection Bureau (C.F.P.B.), contrary to expectations of his removal after Trump's inauguration. Chopra emphasized his commitment to his five-year term, stating he will serve until a successor is appointed. Recently, the C.F.P.B. fined Wise, a money transmitter, $2 million for violations. Critics, including Senator Tim Scott, have persistently pushed for Chopra's resignation, claiming he is unsupportive of consumer interests while his term extends through late 2026.
I swore an oath to a five-year term, and I will keep serving that until I can pass the baton to someone else, Mr. Chopra, who was appointed in 2021 by President Joseph R. Biden Jr., said in an interview this week.
The agency announced its first enforcement action since Mr. Trump's inauguration: It ordered Wise, a money transmitter, to pay a $2 million fine for violations.
#consumer-financial-protection-bureau #rohit-chopra #enforcement-actions #trump-presidency #political-appointees
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