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Consumer Financial Protection Bureau (CFPB) CFPB Director

Ballard Spahr LLP

CFPB Director Rohit Chopra to do fireside chat with Professor Chris Peterson at conference on October 11, 2024.

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The Utah Project on Antitrust and Consumer Protection is hosting a free conference open to the public on the future of consumer financial services law on October 11, 2024 from 8 am until 4 pm, MT....more

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Director Rohit Chopra gives the back of his hand to argument that CFPB is unlawfully funded out of losses of Federal Reserve Banks

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It took about an hour for someone on the Senate Finance Committee during its hearing today to mention the “elephant in the room” — namely, the fact that the CFPB is only allowed under Dodd-Frank to be funded out of “combined...more

Ballard Spahr LLP

CFPB issues semi-annual report to Congress; CFPB Director Chopra to appear before House and Senate committees this week

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Last week, the CFPB issued its Semi-Annual Report to Congress covering the period beginning April 1, 2023 and ending September 30, 2023. On June 12, 2024, CFPB Director Chopra is scheduled to appear before the Senate Banking...more

Sheppard Mullin Richter & Hampton LLP

CFPB Director Targets Credit Reporting Fees

The CFPB is continuing its crusade against so called “junk fees,” and now is looking at credit reporting fees. In a May 20 speech to the Mortgage Bankers Association, Director Rohit Chopra highlighted the rising costs of...more

Troutman Pepper

CFPB Director Chopra Delivers Remarks on Standard-Setting for Open Banking

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In a recent speech at the Financial Data Exchange Global Summit, Rohit Chopra, Director of the Consumer Financial Protection Bureau (CFPB), discussed the current state of open banking in the United States and emphasized the...more

Ballard Spahr LLP

CFPB issues Semi-Annual Report to Congress; CFPB Director Chopra to appear before House and Senate Committees this week (UPDATED)

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Last week, the CFPB issued its Semi-Annual Report to Congress covering the period beginning October 1, 2022 and ending March 31, 2023. ...more

Orrick, Herrington & Sutcliffe LLP

Chopra shares prepared remarks about the lessons from 2008

In his recent address at the Better Markets Conference and his address at the Mortgage Collaborative National Conference, CFPB Director Rohit Chopra reflected on lessons from the 2008 financial crisis, discussing the...more

Troutman Pepper

Impending FCRA Data Broker Rulemaking Announced by CFPB Director Chopra at White House Data Broker Roundtable

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At a White House Roundtable on protecting Americans from allegedly harmful “data broker” practices, Consumer Financial Protection Bureau (CFPB or Bureau) Director Rohit Chopra announced the Bureau’s intention to expand the...more

Ballard Spahr LLP

Happy Twelfth Anniversary CFPB

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Last Friday, July 21, 2023, marked the CFPB’s twelfth anniversary.  To publicize the occasion, the CFPB published a blog post on July 20 in which it touted its achievements and ongoing initiatives....more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - April 2023 #3

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To help you keep abreast of relevant activities, below find a breakdown of some of the biggest events at the federal and state levels to impact the Consumer Finance Services industry this past week...more

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At Interagency Event, CFPB Director Chopra Reinforces Commitment to Combatting Redlining in All its Forms

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At a U.S. Justice Department (DOJ) interagency event in Newark, New Jersey, Consumer Financial Protection Bureau (CFPB or Bureau) Director Rohit Chopra announced the next phase in the Bureau’s attempt to eliminate what he...more

Ballard Spahr LLP

CFPB to hold field hearing on “zombie second mortgages”

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On April 26, 2023, the CFPB will hold a field hearing in Brooklyn, New York on “zombie second mortgages.”  At the event, Director Chopra will host a discussion with local community organizations, advocates, leaders, and...more

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CFPB Director Chopra scheduled to appear before House and Senate Committees this week

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This Wednesday, December 14, CFPB Director Rohit Chopra is scheduled to appear before the House Financial Services Committee for a hearing, “Consumers First: Semi-Annual Report of the Consumer Financial Protection Bureau.”  A...more

Shipkevich PLLC

Fifth Circuit Court of Appeals Finds CFPB Funding Mechanism Unconstitutional Violation of Appropriations Clause

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On October 19, 2022, three judges in the Fifth Circuit Court of Appeals ruled that the funding mechanism of the Consumer Financial Protection Bureau (CFPB) is unconstitutional. Specifically, the court found CFPB’s receiving...more

Ballard Spahr LLP

Report: CFPB unlikely to undertake consumer arbitration rulemaking in near future

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According to a report appearing in today’s Law360, CFPB Director Rohit Chopra has indicated that the agency appears unlikely, at least in the near future, to undertake new rulemaking that would regulate the use of consumer...more

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Director Chopra Discusses Digital Marketing in Remarks at National Association of Attorneys General Presidential Summit

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On August 10, 2022, Director Rohit Chopra delivered remarks at the 2022 National Association of Attorneys General Presidential Summit in Des Moines, Iowa on the topic of consumer protection in the digital world.  Director...more

Ballard Spahr LLP

CFPB to make organizational changes

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According to media reports, CFPB Deputy Director Martinez sent a memo to staff last week announcing the following organizational changes...more

Troutman Pepper

CFPB Director Chopra Announces New Approach to Regulations

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In a June 17 blog post, Consumer Financial Protection Bureau (CFPB or Bureau) Director Rohit Chopra announced that the CFPB intends to “move away from highly complicated rules” in favor of “simpler and clearer rules.” As part...more

Sheppard Mullin Richter & Hampton LLP

CFPB Director Testifies Before Congress

This week, CFPB Director, Rohit Chopra, appeared before the U.S. Senate Committee on Banking, Housing, and Urban Affairs and the U.S. House Committee on Financial Services in conjunction with the CFPB’s submission of its...more

Ballard Spahr LLP

Director Chopra targets repeat offenders in lecture

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Delivering the University of Pennsylvania Law School’s 2022 Distinguished Lecture on Regulation yesterday, CFPB Director Chopra addressed the following question: “How do we stop large dominant firms from violating the law...more

Ballard Spahr LLP

CFPB issues guidance to staff to address concerns about “revolving door” and “special treatment” of former CFPB employees

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This past Friday, the CFPB issued guidance to its staff titled “Ethics Guidance for Engaging with Former Federal Employees.”...more

Ballard Spahr LLP

CFPB announces key leadership changes

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On October 30, the CFPB announced changes in two key leadership positions, Assistant Director for the Office of Supervision Policy and Assistant Director for the Office of Enforcement....more

Troutman Pepper

Recently Confirmed CFPB Director Rohit Chopra Fills Two Key Leadership Positions

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On October 29, the Consumer Financial Protection Bureau (CFPB or Bureau) announced leadership changes in two positions: the assistant director for the Office of Supervision Policy and the assistant director for the Office of...more

Ballard Spahr LLP

CFPB publishes Director Chopra’s statement to staff and other regulators

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The CFPB has published the statement that Director Chopra sent to CFPB staff and other financial regulators following his swearing-in on October 12.  ...more

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Rohit Chopra sworn in as CFPB Director

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On October 12, Rohit Chopra was sworn in as CFPB Director.  On October 14, from 12:00 p.m. to 1:00 p.m. ET, Ballard Spahr will hold a webinar, “Rohit Chopra Confirmed as New CFPB Director: What to Expect Next?” ...more

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