Former President Joe Biden’s appointee to lead the Consumer Financial Protection Board (CFPB) is still in office, but his head might be the next on President Donald Trump’s chopping block.
Rohit Chopra, who was nominated to an open Democratic seat on the CFPB by Trump in 2017, was elevated to director by Biden in 2021, giving him a fresh five-year term.
But in 2020 the U.S. Supreme Court determined that presidents possess the authority to fire the CFPB director with or without cause. Trump’s allies, emboldened by his mandate-driven reshaping of the executive, want Chopra gone.
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Chopra is a protégé of Trump nemesis Sen. Elizabeth Warren (D-MA), and many of his policy positions align with Warren and the radical left.
The Consumer Bankers Association (CBA), a trade association advocating for retail banks and their employees, is among the Trump-friendly groups urging the president to give Chopra the axe.
“We’re hopeful that an Executive Order to reset the CFPB and fire Director Chopra will be on President Trump’s desk to sign soon,” CBA spokesperson Weston Loyd told Breitbart News. “The longer Director Chopra stays, the harder it will be for this pro-growth administration to undo the politically-driven, government-price setting agenda that former President Biden’s appointee has engaged in over the last several years at the Bureau.”
Trump unleashed a flurry of promise-keeping executive orders during the opening days of his administration before traveling Friday to disaster-stricken North Carolina and California. But the president will return to the Oval Office with a slew of additional directives.
Firing Chopra might be at the top of the stack. Chopra reportedly has packed up his office in anticipation of his own firing.
Chopra has supported the nationalization of banks, arguing they should be extensively regulated as public utilities because they undergird the functioning of our financial ecosystem. He also supports asserting government price controls on a myriad of consumer financial products including overdraft fees, credit card late fees, and interest rate caps on credit cards.
The CFPB was created by the Dodd-Frank Act in the aftermath of the financial crisis of 2007-2008. Republicans have long assaulted the bureau as a government power grab that does little to protect consumers and hampers economic growth.
Bradley Jaye is Deputy Political Editor for Breitbart News. Follow him on X/Twitter and Instagram @BradleyAJaye.
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