He has been serving as a member of the Federal . ACA International has learned that Rohit Chopra's confirmation as director of the Consumer Financial Protection Bureau will be considered on the Senate floor soon. Mr. Chopra currently serves as an FTC Commissioner and it was widely believed that to avoid the possibility of a Republican majority, the White House sought to delay Mr. Chopra's confirmation as CFPB Director until President Biden filled the FTC seat of former . This bill would make the agency accountable to the American people by requiring its funding be appropriated by Congress, as is the case for other Executive Branch agencies. Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement on the confirmation of Rohit Chopra as Director of the Consumer Financial Protection Bureau (CFPB). 534 Dirksen Senate Office Building Washington, D.C. 20510 (202) 224-7391 Prior to his nomination, Chopra . Mr. On September 30, the Senate confirmed Rohit Chopra as the new director of the Consumer Financial Protection Bureau (CFPB). Rohit Chopra: October 12, 2021 (Confirmed September 30, 2021, 50-48) — Federal Housing Finance Agency — Director of the Federal Housing Finance Agency. Four months after Rohit Chopra was reported to be the Biden administration's choice to lead the Consumer Financial Protection Bureau, the consumer advocate is still awaiting Senate confirmation. The legislation comes as Senate Democrats advanced the nomination of Rohit Chopra to be CFPB Director to the Senate floor for final confirmation. Chopra was approved Thursday by the Senate in a 50-48 vote along party lines. With Director Rohit Chopra now installed at the CFPB and reasserting the bureau's expansive authority, Capstone expects progress on multiple key rulemakings in 2022. Statement on Rohit Chopra's Confirmation as CFPB Director. Consumer Financial Protection Bureau director Richard Cordray moved one step closer to sticking around as the young agency's . Welcome to ComplianceWeek.com. Cordray's move was aimed at allowing his favored successor to keep running the agency for as long as possible before a Trump appointee is confirmed by the . Chopra's confirmation marks the beginning of his second stint with the CFPB — Chopra served as the CFPB assistant director between 2010 and June 2015, and had overlapping duties as the student loan ombudsman between October 2011 and June 2015. The vote confirming Mr. Chopra was 50-48 down party lines. Read our policy. This website uses cookies. Rohit Chopra Confirmed as New CFPB Director By Keith J. Barnett, Timothy Butler, Carlin McCrory & Matthew White on October 1, 2021 Posted in Consumer Financial Protection Bureau (CFPB) On September 30, the Senate confirmed Rohit Chopra as the new director of the Consumer Financial Protection Bureau (CFPB). The Senate vote on Thursday was 50-48, with every Republican opposing his confirmation. Highly partisan path to CFPB director confirmation finally concludes . This site uses cookies. On September 30, the Senate confirmed Rohit Chopra as the new director of the Consumer Financial Protection Bureau (CFPB). Senators Cornyn and Paul did not vote. September 30, 2021 at 4:52 p.m. EDT. Chopra is the CFPB's third permanent director since the bureau was created by the Dodd-Frank Act, the law passed after the 2008 financial crisis that overhauled the entire banking and financial . The Senate voted 50 to 48 to confirm Rohit Chopra to be the next director of the Consumer Financial Protection Bureau, after months of uncertainty for the Biden administration. Breaking - Rohit Chopra Confirmed as CFPB Director. Chopra's confirmation hearing on Tuesday will be the first of Biden's regulators to face the Senate Banking Committee. The Senate voted 50 to 48 to confirm Rohit Chopra to be the next director of the Consumer Financial Protection Bureau, after months of uncertainty for the . Majority Leader Schumer Floor Remarks On Senate Confirmation Votes Today On Rohit Chopra To Be CFPB Director, Tracy Stone-Manning To Be Director Of The Bureau Of Land Management, And Voting Rights Expert Dale Ho To Be A Federal District Court Judge For The Southern District Of New York September 30, 2021 The Senate on Wednesday confirmed Rohit Chopra as director of the Consumer Financial Protection Bureau (CFPB), approving a fierce critic of the financial sector to lead a powerful agency . Chopra, a Harvard and Wharton School grad, will serve a 5-year term as CFPB director. The Senate confirmed Rohit Chopra on Thursday, by a 50-48 party-line vote, to lead the Consumer Financial Protection Bureau ( CFPB ). The vote on Chopra. Chopra Confirmed as CFPB Director BY Ted Godbout October 01, 2021 Regulatory Agencies After a six-month delay in his nomination, Rohit Chopra has been confirmed as the new head of the Consumer Financial Protection Bureau, returning to the agency he helped launch and likely bringing a renewed enforcement push. Chopra has served on the FTC since 2018. The U.S. Senate approved Chopra's nomination for CFPB director on a 50-48 party-line vote that came roughly eight months after President Joe Biden tapped him for the powerful consumer financial . [7] The March 11, 2021 Rescission Statement makes clear that Uejio is committed to forging ahead with an immediate return to pre-Trump . Chopra's history with the CFPB dates back to the agency's inception in . Senate Confirms Rohit Chopra as CFPB Head. Sandra L. Thompson Announced December 14, 2021 — — On Thursday, September 30, 2021, the Senate voted to confirm Rohit Chopra as the Director of the Consumer Financial Protection Bureau (CFPB), ending a months-long effort to fill the position that was left vacant when President Biden asked Kathy Kraninger to step down from the position in January 2021. "NAFCU congratulates Rohit Chopra on his confirmation to serve as CFPB Director," said NAFCU President and CEO Dan Berger. "On behalf of the American Land Title Association and our members nationwide, we congratulate Rohit Chopra on his confirmation as director of the Consumer Financial Protection Bureau," said Diane . Chopra Confirmed as CFPB Director By Moorari Shah, A.J. The Senate confirmed Rohit Chopra to be the next director of the Consumer Financial Protection Bureau with a party-line vote. Reading Time: 2 mins read. Consumer Financial Protection Bureau — Director of the Consumer Financial Protection Bureau. Chopra confirmed as CFPB Director The Senate has approved the nomination of Rohit Chopra as Director of the Consumer Financial Protection Bureau (CFPB); the nomination was cleared by a 50-48 vote. Kathleen Laura Kraninger (born December 28, 1974) is an American government official who served as director of the Consumer Financial Protection Bureau (CFPB) from December 11, 2018, until her resignation on January 20, 2021. (The Committee had voted 12-12, also along party lines, which meant the Senate received Mr. Chopra's nomination without a recommendation by the . After months of limbo, on September 30, 2021, the United States Senate confirmed Rohit Chopra as Director of the Consumer Financial Protection Bureau (CFPB). He had. The delay in the confirmation for a new director at the CFPB slowed rulemaking processes that have significant implications for the fintech industry. Kathy Kraninger's confirmation hearing to become the next head of the CFPB is on Thursday. "NAFCU congratulates Rohit Chopra on his confirmation to serve as CFPB Director," said NAFCU President and CEO Dan Berger. A&B Abstract: On September 30, 2021, the Senate confirmed Rohit Chopra to serve as director of the Consumer Financial Protection Bureau (CFPB) in a 50-48 vote along party lines. SEC Chair and CFPB Director Confirmation Hearing. Before that, she served in the White House Office of Management and Budget during the Trump administration. NCL applauds Senate confirmation of Rohit Chopra as CFPB Director. New CFPB Director Separately, by a vote of 50-48, the U.S. Senate voted to confirm Rohit Chopra as director of the Consumer Financial Protection Bureau (CFPB). In an email to staff in January, Mr. Uejio broadly described his major priorities for the CFPB as (1) relief for consumers facing hardship due to COVID-19 and the related economic crisis and (2) racial equity. Statement from CSBS President and CEO John W. Ryan on Rohit Chopra Confirmation as CFPB Director: "State financial regulators look forward to continued partnership with the CFPB under the leadership of Director Chopra. When Kraninger resigned at President Biden's request on his January 2021 inauguration day, veteran staffer Dave Uejio was announced as the CFPB's Acting Director pending confirmation of a permanent director. The 50-48 vote was along party lines, a dramatic shift from Chopra's unanimous confirmation by the Senate in April 2018 to serve as a . Culminating a partisan slog that stretched from Inauguration Day through the close of the third quarter, the U.S. Senate confirmed Rohit Chopra as the new director of the . Committee confirmation hearing in . Chet Strange for Aging Media Network Rohit Chopra, President Joe Biden's full-time nominee to serve as director of the Consumer Financial Protection Bureau (CFPB), may see his confirmation in the U.S. Senate delayed due to vacancies that exist at the Federal Trade Commission (FTC), where Chopra currently serves as a commissioner. On Saturday, the White House submitted Chopra's name, among other nominations, to the Senate for confirmation.The Senate Banking Committee has received Chopra's nomination and must now schedule its confirmation hearing. Lawmakers will soon shift their attention to his replacement at the Federal Trade Commission. Chopra was confirmed 50 to 48 on Sept. 30. Sept. 30, 2021. New CFPB Director promises active approach to regulation. The process for Rohit Chopra to become the next director of the Consumer Financial Protection Bureau has officially started. Washington, DC— The National Consumers League (NCL), America's pioneering consumer and worker advocacy organization, today applauded the U.S. Senate for its confirmation of Rohit . Senate Majority Leader Chuck Schumer is taking the lead to advance the confirmation for Chopra, who was nominated for the CFPB position by President Joe Biden in January. politically divided slog to confirm Kathy Kraninger as the next director of the Consumer Financial Protection Bureau . On Tuesday, in a party line vote of 49-48, the Senate voted to advance Rohit Chopra's nomination to serve as CFPB Director from the Senate Banking Committee to consideration by the full Senate. If the director leaves the CFPB before his or her five . The Senate confirmed Rohit Chopra on Thursday to run the Consumer Financial Protection Bureau in a 50-to-48 party-line vote that overcame objections from Republicans who said he . Chopra's confirmation hearing on Tuesday will be the first of Biden's regulators to face the Senate Banking Committee. Rohit Chopra was confirmed as Director of the Consumer Financial Protection Bureau (the "CFPB") following a 50-48 vote in the Senate on Thursday, September 30, 2021. Consumer Financial Protection Bureau/Dodd-Frank Act Update: On January 4, 2012, President Obama recess appointed Cordray to lead the CFPB. Earlier this year, we took a look at what to expect from newly-minted NCUA Chairman Todd . Throughout his career, Director Chopra has been a strong advocate for . By a 50-48 party line vote, the U.S. Senate confirmed Rohit Chopra yesterday as CFPB Director. Senate Confirms Rohit Chopra as CFPB Director | Pillsbury Winthrop Shaw Pittman LLP - JDSupra October 4, 2021 Senate Confirms Rohit Chopra as CFPB Director Honorable William Lacy Clay Jr., Yvette. Mr. Chopra's confirmation clears the way for the White House to move forward on President Biden's nomination of Alvaro Bedoya to fill Mr. Chopra's seat as FTC Commissioner and on the President's nomination of Acting CFPB Director Dave Uejio to serve as Assistant Secretary for Fair Housing and . Chopra's confirmation marks the beginning of his second stint with the CFPB — Chopra served as the CFPB assistant director between 2010 and June 2015, and had overlapping duties as the student loan ombudsman between October 2011 and June 2015. "There is no better person to lead the Consumer Financial Protection Bureau at this time than Rohit Chopra, who helped establish the foundation for the CFPB in . The new director will be an aggressive regulator who will press to break new ground as technology plays a bigger role in banking. Rohit Chopra is the new Consumer Financial Protection Bureau (CFPB) director, his nomination approved 50-48 with Vice President Kamala Harris casting . Senate confirms Chopra as CFPB Director. Analytical cookies help us improve our website by providing insight on how visitors interact with our site, and necessary cookies which the website needs to function properly. Uejio, whose appointment was announced late Wednesday, will run the watchdog agency pending Senate confirmation of Federal Trade Commission member Rohit Chopra as its permanent director. Dhaliwal & Sherwin Root on October 1, 2021 Posted in CFPB By a narrow 50-48 vote along party lines, Rohit Chopra was confirmed yesterday by the U.S. Senate to become the Director of the Consumer Financial Protection Bureau. Senate Confirms Kathy Kraninger As CFPB Director The White House official has been confirmed as the Consumer Financial Protection Bureau's new chief over . Media contact: National Consumers League - Carol McKay, carolm@nclnet.org, (412) 945-3242. At the CFPB, the number two post is handpicked by the sitting director and does not require a presidential nomination or Senate confirmation. OK Skip to main content Skip to navigation Compliance Week WASHINGTON, D.C. -. Office of Management and Budget (OMB) director Mick Mulvaney said on Monday that he would not "decimate" the Consumer Financial Protection Bureau (CFPB) during his tenure as acting director . Majority Leader Schumer Floor Remarks On Senate Confirmation Votes Today On Rohit Chopra To Be CFPB Director, Tracy Stone-Manning To Be Director Of The Bureau Of Land Management, And Voting Rights Expert Dale Ho To Be A Federal District Court Judge For The Southern District Of New York September 30, 2021 As the Senate takes up the nomination of Richard Cordray to a full term as Director of the CFPB, 43 Senators are threatening to block a confirmation vote unless supporters of consumer protection agree to major, weakening changes in the governance and funding of this new agency. April 14, 2021 by John McKechnie, DCUC Insights. Chopra previously served as a Federal Trade Commissioner and at the CFPB where he was charged with protecting student borrowers from abuse and mistreatment as student loan ombudsman. September 30, 2021, Washington, D.C. - INFiN, a Financial Services Alliance, issued the following statement, attributable to executive director Ed D'Alessio, regarding the confirmation of Rohit Chopra as director of the Consumer Financial Protection Bureau (CFPB): "On behalf of the regulated consumer financial services industry . Consumer Advocates File in Support of Acting CFPB Director Leandra English Agency's Independence Is Necessary to Its Mission, Groups Say WASHINGTON, D.C. - The U.S. Consumer Financial Protection Bureau's (CFPB) independence from external political influence is crucial to the agency's mission of protecting consumers, 10 groups told a court today in an amicus brief filed in the […] In a partisan vote of 53 to 45, the U.S. Senate blocked the confirmation of Richard Cordray, President Chopra will need to resign from his position on FTC to officially start as CFPB director. Bradley partner Mike Gordon was quoted in Bloomberg Law discussing the U.S. Senate's recent confirmation of Rohit Chopra as director of the Consumer Financial Protection Bureau.Chopra, an agency veteran and former FTC official, has a reputation as an aggressive regulator. Analysts attribute the delay to worries among some Democrats that moving too fast to confirm . CRC Executive Director Paulina Gonzalez-Brito offered the following comment: "We applaud the Senate's confirmation of Rohit Chopra. Rohit Chopra, President Joe Biden's nominee to lead the Consumer Financial Protection Bureau, is likely to return the agency to its original incarnation, proactively rooting out bad actors and levying hefty fines on violators, regulatory experts say. With the congressional confirmation of Rohit Chopra as Director at the Consumer Financial Protection Bureau, President Joe Biden continues to make his mark on U.S. financial regulation. Rohit Chopra was confirmed by the Senate to serve as director of the Consumer Financial Protection Bureau, returning a consumer watchdog to an agency that has been rocked by partisan divisions over the scope of its power. October 1, 2021. 5,943 Views Program ID: 509429-1 Category: Senate Committee Format: Senate Committee Location: Washington, District of Columbia, United States Statement of Ed Mierzwinski, U.S. PIRG Consumer Program Director, on the Senate Confirmation of Richard Cordray to Full Term as Consumer Financial Protection Bureau (CFPB) Director: "Today's expected confirmation of Richard Cordray to head the CFPB for a full term is good news for consumers, and for firms that want to play fair in the . Chopra Confirmed as CFPB Director Friday, October 1, 2021 By a narrow 50-48 vote along party lines, Rohit Chopra was confirmed yesterday by the U.S. Senate to become the Director of the Consumer. If confirmed as CFPB director, he will succeed Acting Director David Uejio, who has served since Director Kathy Kraninger resigned in January when Biden took office. The U.S. Senate on Thursday confirmed Rohit Chopra as the new director of the Consumer Financial Protection Bureau. Chopra's confirmation comes almost eight months after President Biden nominated the consumer advocate and former Federal Trade Commission ("FTC") Commissioner to lead the CFPB. Senate Panel Gives Thumbs-Up To Confirming CFPB Director Cordray. Democrats are gearing up for a fight over the next head of the government's top consumer watchdog . California Reinvestment Coalition (CRC) applauds the U.S. Senate confirmation of Rohit Chopra as Director of the Consumer Financial Protection Bureau (CFPB). Today, Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, released the following statement on the confirmation of Rohit Chopra as Director of the Consumer Financial Protection Bureau (CFPB). In an email to bureau employees sent shortly after Chopra's confirmation, Uejio said he expects Chopra to begin work late next week once he resigns his position at the FTC. On Thursday afternoon, the U.S. Senate, in a tight 50-48 vote, approved the nomination of Rohit Chopra as the new Director of the Consumer Financial . Trade groups confirm the nomination and confirmation of Kathleen Kraninger as CFPB Director, following the senate banking committe's previous approval. During his CFPB director confirmation hearing before the Senate Banking Committee in March, Chopra echoed a similar stance to his work at the FTC, promising to penalize rule-breakers and defend. Office Information. "The Financial Technology Association (FTA) congratulates Rohit Chopra on his confirmation as the next Director of the CFPB. In January 2021, President Biden named Rohit Chopra to serve as CFPB Director. Chopra is the CFPB's third permanent director since the bureau was created by the Dodd-Frank Act, the law passed after the 2008 financial crisis that overhauled the entire banking and financial . With Chopra's ascent to the bureau's top role, lawmakers and analysts expect the regulator to assume a tougher stance on enforcement. December 8: U.S. Senate Blocks the Confirmation of Richard Cordray For CFPB Director Spot. The Senate yesterday approved the nomination of Rohit Chopra as Director of the Consumer Financial Protection Bureau (CFPB); the nomination was cleared by a 50-48 vote. The CFPB has already become increasingly active under Acting Director Dave Uejio, who was appointed by President Biden in January 2021. Consumer Financial Protection Bureau - Rohit Chopra (effective October 12, 2021) Statement by House Committee on Financial Services Chair Maxine Waters on Rohit Chopra's Confirmation (September 30, 2021) CSBS Statement on Rohit Chopra Confirmation as CFPB Director (September 30, 2021) On Thursday afternoon, the U.S. Senate, in a tight 50-48 vote, approved the nomination of Rohit Chopra as the new Director of the Consumer Financial . In terms of the broader reaction to the confirmation of incoming Director Chopra, the experience that the former Federal Trade Commissioner has in government and at the Bureau itself could prove beneficial in the internal operations of the CFPB and the entities that regularly interact with it. The person nominated to be director of the CFPB requires confirmation by the Senate, and it could be many weeks or months before the person would be able to step into the role permanently. What's holding up the confirmation of the next CFPB chief. During his March confirmation hearing, Chopra vowed stiffer penalties . Senate Confirms Rohit Chopra as CFPB Head. Biden's choice for the CFPB's acting director, Dave Uejio, has used his position to pivot the bureau sharply back to its original mission.
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