With the Senate confirming Rohit Chopra as CFPB director, industry participants are preparing for regulatory whiplash after relaxed enforcement and rulemaking during the Trump administration.
Rohit Chopra’s confirmation as CFPB director prompted a surge of statements from industry stakeholders. The sentiments include requests for action and compliments.
Rohit Chopra was nominated in February to serve as the CFPB’s director. However, a final vote on his appointment has been delayed in the Senate for several months due to concerns about the leadership of the Federal Trade Commission, where Chopra is currently a member.
Capitol Hill Republicans want CFPB Acting Director Dave Uejio to testify before Congress about the policy actions undertaken during his six-month tenure.
Six months after leaving the bureau, former CFPB Director Kathy Kraninger has some advice for companies: Have a process in place for identifying mistakes before the bureau and state examiners do so.
CFPB appoints former Freddie official to head Office of Innovation; CFPB cautions against reverse mortgage scams; mortgage servicers settle with DOJ; MMC examinations.