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Watchdog: “After Trump’s CFPB left millions of families more vulnerable to abuse from financial scammers and predatory lenders, the Bureau is back on track to protecting consumers.”

Washington, D.C. — With no help from Republican senators, President Biden’s exceptional nominee to lead the Consumer Financial Protection Bureau (CFPB) was confirmed today. As consumers face incredible threats from harmful financial actors during the ongoing pandemic, Rohit Chopra’s experience protecting consumers at the FTC and as former CFPB student loan ombudsman will help turn the page on the dark days of Wall Street appeasement under former Trump CFPB Director Kathy Kraninger. In response, government watchdog Accountable.US released the following statement:   

“It’s pitiful but predictable that the senators who grovel for Wall Street money tried to derail this nomination – all because they know Mr. Chopra will do his job of protecting consumers from industry harm,” said Jeremy Funk, spokesman for Accountable.US. “Many of these same senators enthusiastically endorsed Donald Trump’s pick, who had zero consumer advocacy experience and a clear intention of letting the financial industry write its own rules. After Trump’s CFPB left millions of families more vulnerable to abuse from financial scammers and predatory lenders, the Bureau is back on track to protecting consumers.”  

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