Rohit Chopra, Director
Consumer Financial Protection Bureau
Rohit Chopra was born in January 1982 in Plainfield, New Jersey. He earned an undergraduate degree from Harvard University and a master of business administration from the Wharton School of the University of Pennsylvania. He received a Fulbright Fellowship to South Korea.
He began his career in a global management consultant firm. He worked with the team and created the Consumer Financial Protection Bureau after the passage of the Dodd-Frank legislation. He became the assistant director and Student Loan Ombudsman. He was an early opponent of the increasing levels of student loan debt in the nation. He became a senior advisor to the under secretary of education and then served as a senior fellow for a consumer advocacy group.
Chopra was nominated to the Federal Trade Commission by President Donald Trump and confirmed by the Senate. He was later nominated by President Joe Biden to be director of the Consumer Financial Protection Bureau, to which he was confirmed by a Senate cloture vote in September 2021.
In the News…
The Consumer Financial Protection Bureau filed suit against Bank of America, JP Morgan Chase, and Wells Fargo due to customer losses through the payment network Zelle. The bureau reports that bank customers have lost $870 million due to scams over the seven years Zelle has existed.
Allegedly, the banks, which are part owners in the peer-to-peer payment network, did not protect users adequately.
Director Rohit Chopra stated, “The nation’s largest banks felt threatened by competing apps, so they rushed to put out Zelle. By their failing to put in place proper safeguards, Zelle became a gold mine for fraudsters, while often leaving victims to fends for themselves.”
Contact this Leader…
Did you pray for Director Chopra today? You can let him know at:
The Honorable Rohit Chopra, Director
Consumer Financial Protection Bureau
1275 First St NE
Washington, DC 20002
