Indian American nominated as head of Consumer Financial Protection


Last month while nominating members for this office, President Biden had chosen Indian American Rohit Chopra for the position of Director of Bureau of Consumer Financial Protection (CFPB).

Now, his nomination has been officially sent to the Senate to appoint him, said the official statement by The White House on Saturday, February 13.

The statement mentioned that Chopra, of the District of Columbia, will the Director of the Bureau of Consumer Financial Protection for a term of five years, and will be replacing Kathleen Laura Kraninger, who had resigned her position on January 20, 2021, when Biden took his presidency.

Chopra was previously an assistant director of the Consumer Financial Protection Bureau. He was appointed by the Secretary of the Treasury as the agency’s first Student Loan Ombudsman, established by the Dodd–Frank Wall Street Reform and Consumer Protection Act.

He has served as a Federal Trade Commissioner since 2018. He has also served as a Special Advisor at the US Department of Education.

Chopra is a vocal critic of the mounting levels of student loan debt in the United States. In 2012, he released an analysis revealing that outstanding student debt exceeded $1 trillion.

The other nominations that have been sent to the Senate include Rachel Leland Levine to be an Assistant Secretary of Health and Human Services, vice Brett Giroir; Victoria Nuland, of Virginia, to be an Under Secretary of State (Political Affairs), vice David Hale; and Julie A. Su, of California, to be Deputy Secretary of Labor, vice Patrick Pizzella.

Chopra earned a Bachelor of Arts degree from Harvard University and an MBA from the Wharton School of the University of Pennsylvania. He was also the recipient of a Fulbright fellowship.

Before entering government, he worked at McKinsey & Company, a global management consultancy firm.