Former President Donald Trump has dismissed Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, a holdover from the Biden administration. Chopra, a strong advocate for consumer rights, led efforts to remove medical debt from credit reports and cap overdraft fees. While praised by consumer advocates, financial industry leaders saw his policies as overreach.
Chopra, an ally of Sen. Elizabeth Warren, thanked supporters in a social media post, stating they had helped hold companies accountable. His firing was expected, as he had previously stated he would leave if asked by the new president.
Democrats, including Warren and Rep. Maxine Waters, condemned the move, warning it signals a rollback of consumer protections. The CFPB, created after the 2008 financial crisis, has faced long-standing opposition from Republicans. Last year, the Supreme Court upheld its unique funding structure, ensuring its continued operation despite GOP efforts to weaken it.
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