US President Donald Trump terminated Biden-appointee Rohit Chopra, the head of the Consumer Financial Protection Bureau (CFPB).
On Saturday, Rohit acknowledged that his services as the director of the CFPB had ended in a letter to Trump. As per the media reports, Rohit was told about his termination in an email.
US President Trump Terminated Biden-Appointee Rohit Chopra
Rohit Chopra, whose five-year term was set to conclude next year, became a casualty of Trump’s effort to remove Biden administration holdovers. He was one of the last remaining Indian Americans appointed by Biden to senior, high-profile roles after Trump assumed office.
Apart from this, Rohit has served on the Federal Trade Commission as a nominee of the Democratic Party before Biden appointed him to head the CFPB.
Before concluding his services at CFPB, Chopra fined the international remittance company Wise for about $ 2.5 million, earlier this week, for inaccurately advertising fees and not properly disclosing exchange rates.
Moreover, Rohit was considered a mentee of Senator Elizabeth Warren, a progressive who is the senior Democratic member of the Senate Banking Committee. Warren lauded Chopra for his leadership at CFPB saying, “Under his leadership, the CFPB is holding Wall Street accountable for cheating hard-working families and preventing the de-banking of Americans across the country, including consumers locked out of the financial system due to overdraft fees, religious organizations, and conservatives.”
Further, she added, ” The agency has returned over $20 billion to consumers since its founding – protecting Americans from junk fees, medical debt, and predatory lending.”
Rohit Posts Letter On Social Media
Chopra posted the letter of service termination on X, which was without hatred and he mentioned his work on three policy issues. He wrote that he has “We have also analyzed your promising proposal on capping credit card interest rates and we see a path for enacting meaningful reforms”.
It’s been an honor serving as your @CFPB Director.
Every day, Americans from across the country shared their ideas and experiences with us. You helped us hold powerful companies & their executives accountable for breaking the law, and you made our work better.
Thank you. 🇺🇸🇺🇸🇺🇸 pic.twitter.com/JD7lIcwmHa
— Rohit Chopra (@chopracfpb) February 1, 2025
Rohit mentioned this after Trump said that he wants to cap credit card interest rates that can now exceed 20 percent at around 10 percent.
Chopra also mentioned that he has proposed rules to “block China, Russia, and other countries of concern from conducting surveillance operations on Americans using commercial data brokers”.
He concluded by writing that he has suggested policies to “block financial firms and technology giants from debunking and de-platforming Americans based on their speech or religious views”.
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