Numerous media sources have reported that Senate Minority Leader Chuck Schumer has recommended Rohit Chopra to fill the open Democratic seat on the FTC.

Mr. Chopra, who currently serves as a senior fellow at the Consumer Federation of America, formerly served as the CFPB’s Student Loan Ombudsman.  After leaving the CFPB, he is reported to have served as a special adviser to former Education Secretary John B.… Continue Reading

As Inauguration Day approaches, the rhetoric about the CFPB’s future continues to heat up. American Banker reported that, on a conference call with reporters earlier this week, Senate Minority Leader Charles Schumer stated that that he would not support legislation to replace the CFPB’s single-director leadership with a five-person commission.

Such a change in the CFPB’s leadership structure is among the changes to the CFPB proposed by the CHOICE Act, the bill released in July 2016 by House Financial Services Committee Chairman Jeb Hensarling to replace the Dodd-Frank Act and passed by the Committee in September 2016. … Continue Reading