Senate confirms Biden pick to lead consumer watchdog agency
Associated PressWASHINGTON — The Senate narrowly approved President Joe Biden’s pick to run the Consumer Financial Protection Bureau on Thursday, giving the bureau a director who is likely to embrace an aggressive “watchdog” role, similar to how the agency operated under former President Barack Obama. 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 system. 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. “I have grave concerns that Commissioner Chopra would return the CFPB to the lawless, overreaching, highly politicized agency it was during the Obama administration,” said Sen. Pat Toomey of Pennsylvania, the ranking Republican on the Senate Banking Committee, during his speech opposing the nomination.
History of this topic
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