NACA in the News: Biden Nominates Rohit Chopra to Head CFPB

Legal Reader, Biden Nominates Rohit Chopra to Head CFPB

“Christine Hines, legislative director for the National Association of Consumer Advocates, told NBC News that the CFPB’s regulatory powers and purview declined under Trump and Kraninger.

‘Consumer safeguards, enforcement, and general monitoring of the financial marketplace, arguably, were mediocre,” Hines stated. “The Bureau became more sympathetic to the regulated entities, to the detriment of consumers.’

Hines said she believes that the Biden administration is planning to rid the CFPB of its pro-corporate policies and stance.”