WASHINGTON: President-elect of the United States Joe Biden on Monday he appointed Indian-American Rohit Chopra as head of a federal agency tasked with protecting the financial interests of consumers.
If confirmed by the Senate, Chopra would succeed Kathleen Laura Kraninger Director from Office of Consumer Financial Protection.
The office regulates the supply and supply of consumer financial products or services in accordance with federal consumer financial laws and educates and authorizes consumers to make better-informed financial decisions.
Chopra is currently commissioner of the Federal Trade Commission. He has actively advocated for the promotion of competitive and fair markets that protect honest families and businesses from abuse.
The Senate unanimously confirmed this in 2018 and has pushed aggressive appeals against companies that break the law, especially repeat offenders. Together with state and international law enforcement partners, it has worked to increase control of dominant technology companies that pose risks to privacy, national security and fair competition, the transition said.
Chopra previously served as deputy director of the Office of Consumer Financial Protection, where he led the agency’s efforts. student loans. In 2011, the Secretary of the Treasury appointed him as a defender of the CFPB student loan, a new position established in the Financial Reform Act. He also served as a special adviser to the United States Department Education.
In these roles, Chopra led efforts to foster competition in the student loan financing market, develop new tools for students and student loan borrowers to make smarter decisions, and secure hundreds of millions of dollars in repayments for students. borrowers victims of illegal conduct by debt collectors and for-profit university chains.
Chopra’s announcement came along with Biden naming several key administrative positions. Among them are Elizabeth Klein as Deputy Secretary of the Interior; Dr. Jewel Bronaugh as Deputy Secretary of Agriculture; Andrea Palm as Deputy Secretary of Health and Human Services; Polly Trottenberg as Deputy Secretary of Transportation; Cindy Marten as Deputy Secretary of Education; and Gary Gensler as chairman of the Securities and Exchange Commission.
“Our administration will begin to offer immediate and urgent relief to Americans; it will face the overlapping crises of COVID-19, the historic economic recession, systemic racism and inequality and the climate crisis; and it will get this government work for the people you serve, ”Biden said.
“These tireless public officials will be a key part of our agenda to rebuild better, and I am sure they will help make significant changes and move our country forward,” he said in a statement.
“To meet the unprecedented challenges facing the American people, we will need leaders with a lot of experience and knowledge throughout our administration,” the elected vice president said. Kamala Harris.
“These remarkable officials reflect the best of our nation and will help us contain this pandemic, create an economy that works for working people, and rebuild our country so that it lifts all Americans. President-elect Biden and I look forward to working with them to deliver results for the American people, ”he said.