Incoming Senate panel chairman praises CFPB nominee; discussed plans to ‘rebuild the bureau’

Perhaps unsurprisingly, the nominee to lead the federal consumer financial protection agency has won glowing praise from the incoming leader of the Senate Banking Committee following a video call between the two.

That praise included discussion of plans to “rebuild the bureau” after it was “weakened” by the previous agency leadership.

In a readout of his meeting with Consumer Financial Protection Bureau (CFPB) Director Nominee Rohit Chopra, Sen. Sherrod Brown (D-Ohio), the incoming chairman of the Banking Committee, called the nominee “the kind of bold and experienced person we need” to lead the bureau.

“During our meeting, we discussed his plans to rebuild the CFPB after the Trump Administration weakened the agency, as well the agency’s plans to protect consumers – and in particular homeowners – during and after the pandemic,” Brown said. “We also discussed the importance of the CFPB’s role in rooting out illegal discrimination and ensuring a fair and equitable market for consumer financial products and services.”

The incoming committee chairman said he was confident of Chopra’s ability to lead the agency. He added that he looks forward to “what we can accomplish together to address racial inequities and help American families during this pandemic.”

Readout of Incoming Chair Brown’s Meeting with Rohit Chopra to be Director of the Consumer Financial Protection Bureau (CFPB)