Trump Fires The Director Of Consumer Financial Protection Bureau

[Wicked Blue]

Source: HuffPost

PALM BEACH, Fla. (AP) — President Donald Trump has fired the director of the Consumer Financial Protection Bureau, Rohit Chopra, in the latest purge of a Biden administration holdover.

Chopra was one of the more important regulators from the previous Democratic administration who was still on the job since Trump took office on Jan. 20. Chopra’s tenure saw the removal of medical debt from credit reports and limits on overdrafts penalties, all based on the premise that the financial system could be fairer and more competitive in ways that helped consumers. But many in the financial industry viewed his actions as regulatory overreach.

In a social media post Saturday about his departure, Chopra thanked people across the country who “shared their ideas and experiences” with the government’s consumer financial watchdog agency.

“You helped us hold powerful companies & their executives accountable for breaking the law, and you made our work better,” Chopra posted above on X above pictures of his letter announcing that he would no longer lead the bureau.

Read more: https://www.huffpost.com/entry/trump-fires-rohit-chopra-director-consumer-financial-protection-bureau_n_679e37a4e4b03d46bcc8d6d4

[Diraven]

1. Republicans have been trying for years

To get rid of the CFPB. They can't just close it yet without a law, so I'm sure the next head will basically sabotage the whole place.

[Captain Zero]

2. Now. Ignore Abuses and assaults

Just appoint someone to ignore Abuses now. No findings in favor of consumers.

[IronLionZion]

3. As if MAGAts don't have medical debt and overdraft penalties

And regulations are really hurting the big banks so much. What could go wrong?

Do MAGAts enjoy being screwed by Wall St. bankers? Maybe that's their kink.

[wolfie001]

4. She did great work and she's one of my heroes!!!

[kimbutgar]

5. So when maggots get scammed and lose money they will not get any help from this Bureau!

They got scammed by a known conman and they are going to experience FAFO.

I’ve learned years if it sounds too good to be true it’s probably a scam.

[Evolve Dammit]

6. CNN reports today Musk's teams are trying to access (control) US Treasury payments systems.

[kimbutgar]

7. is the muskrat a Putin agent sent to destroy our country?

He seems to want to destroy all US agencies that help people and make us helpless to stop him.

[Wicked Blue]

8. I think so

[Evolve Dammit]

9. The richest asshole in the world can do whatever he wants right now. He's a Nazi and needs to be exposed every hour.

[muriel_volestrangler]

10. I think it's more that Musk is a genuine fascist and Nazi who thinks "the lower classes" deserve to suffer

as a matter of principle. He sees the rich as having proved they are "better people", and those who haven't got rich must be worse.

[C0RI0LANUS]

11. Felon Musk: From George Costanza to Albert Speer. What a country we have.

Albert Speer.

[riversedge]

12. Sen. Warren: "......the bureau under Chopra had held "Wall Street accountable."

.............Chopra is an ally of Sen. Elizabeth Warren, one of Trump’s favorite targets, and the Massachusetts Democrat said in a statement that if Trump and Republicans “decide to cower to Wall Street billionaires and destroy the agency, they will have a fight on their hands.” She said the bureau under Chopra had held “Wall Street accountable.”

https://www.huffpost.com/entry/trump-fires-rohit-chopra-director-consumer-financial-protection-bureau_n_679e37a4e4b03d46bcc8d6d4
California Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, said in a statement that Chopra’s dismissal “marks the end of an era of strong consumer protection and the beginning of a plan to end this important agency.”


The bureau was created after the 2008 financial crisis to regulate mortgages, car loans and other consumer finance. It has long been opposed by Republicans and their financial backers.

Last year, the Supreme Court rejected a challenged that could have undermined the bureau, ruling that the way it is is funded does not violate the Constitution. Unlike most federal agencies, the bureau does not rely on the annual budget process in Congress, but is funded directly by the Federal Reserve.

[riversedge]

13. Rep. Maxine Waters said Chopra's firing marks "beginning of a plan to end this important agency."

Repugs have always opposed this agency. She is spot on. damn.



...........California Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, said in a statement that Chopra’s dismissal “marks the end of an era of strong consumer protection and the beginning of a plan to end this important agency.”