CFPB Director Rohit Chopra had previously stated he would step down if asked by the new president
President Donald Trump has fired Rohit Chopra, director of the Consumer Financial Protection Bureau (CFPB), following pressure from financial institutions.
Notified of his firing by email from the White House on Saturday, Chopra had previously stated he would step down if asked by the new president.
A former ally of Sen. Elizabeth Warren, Chopra focused on protecting consumers from financial abuses. Under his leadership, the CFPB secured billions in relief for consumers and implemented new regulations to ensure fairness in banking.
Appointed by former president Joe Biden in 2021, Chopra faced backlash from companies like Bank of America and JPMorgan Chase for imposing regulations on overdraft fees and credit card late fees.
The White House commented that the decision was within the executive’s prerogative and the CFPB declined to comment on his departure.