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The head of the Consumer financial protection office (CFPB) announced his departure on Saturday, becoming the last officer of Biden Administration to be expelled by the Trump administration.
Rohit Chopra, who has been the director of the Consumer Surveillance Agency since 2021, published a letter Aimed at President Trump Online, in which he said his mandate leading the Bureau “concluded.” Chopra had been confirmed by a five -year term, which would have passed until the end of 2026.
“With so much power concentrated in the hands of a few, agencies like the CFPB have never been more critical,” he wrote.
“I know the CFPB is ready to work with you and the following confirmed director, and we have dedicated a lot of energy to ensure continuous success,” CHOPRA added.
The associated press informed That Trump fired on Chopra and was notified his ear in an email from the White House.
Trump appointed Chopra to a Democratic seat with the agency during the first term. It was confirmed to run The agency in a Senate vote from 50-48 in September 2021.
The CFPB has wide authority to regulate and supervise the way banks, lenders, debt collectors and insurance companies treat their customers. The office may unilaterally penalize those who violate the consumer protection laws and fair loans, and all the whims of the director of the CFPB, who have the latest opinion on all the regulations of the agency and execution actions. .
Under Chopra’s leadership, the agency has it assumed AIM to “junk rates”. Numerous rules and execution actions were included in loans service rates, bank download rates and credit rates.
The CFPB has also sought to address news in the financial services space, such as Buy Now Pay later and digital wallets.
Republicans have long been skeptical of the agency. During Trump’s first term, former White House Chief Chief Mick Mulvaney was acting as a did actions To loosen the supervision of the office financial companies, the regulations of the Agency of Misery, reorganize the key departments and receive the watchful polarizer.
