Financial Protection

Consumer Financial Protection Bureau firing on all cylinders since Director Chopra was sworn in one year ago today

CFPB director Chopra
CFPB Flickr account | Public Domain
CFPB Director Rohit Chopra

Rohit Chopra was sworn in as director of the Consumer Financial Protection Bureau (CFPB) one year ago today. 

As we highlighted in a post on the CFPB’s 11th birthday this July, since Director Chopra was sworn in the CFPB is protecting consumers better than ever before.

Our list of top 11 actions taken by the Chopra CFPB to protect consumers:

  1. Drawing attention to predatory overdraft fees
  2. Paving the way for changes to medical debt reporting
  3. Launching an initiative to save Americans billions of dollars in junk fees
  4. Launching an initiative to improve customer service at big banks
  5. Slamming the Big 3 credit bureaus for excuses, “deficiencies” and failures
  6. Highlighting the particular medical billing, credit reporting and debt collection harms to military families
  7. Examining for-profit colleges
  8. Looking at the impact of Big Tech’s entry into the payments space
  9. Taking action to protect the deposit insurance guarantee
  10. Making it easier for consumers to directly request regulatory changes
  11. Conceding it created and operated a Trump-era taskforce in violation of federal transparency law

Some other noteworthy actions taken since we first published that list in July:

  1. Joining the Department of Justice to caution auto finance companies about servicemember protections
  2. Increasing its focus on protecting consumers from shoddy data security practices
  3. Spotlighting the problems with Buy Now, Pay Later plans
See the Campaign

Show More