June 22, 2021
The Honorable Sherrod Brown, Chairman
The Honorable Pat Toomey, Ranking Member
U.S. Senate Committee on Banking, Housing, And Urban Affairs
United States Senate
Washington, D.C 20510
RE: Letter Supporting the Nomination of Rohit Chopra for CFPB Director
Dear Chairman Brown and Ranking Member Toomey,
On behalf of American Fintech Council (AFC), I am writing to express our support for the confirmation of Commissioner Rohit Chopra of the Federal Trade Commission (FTC) as Director of the Consumer Financial Protection Bureau (CFPB).
Prior to the FTC, Commissioner Chopra was a member of the CFPB implementation team and served for five years as the first Student Loan Ombudsman. He also served as Special Assistant to the Secretary at the Department of Education. In 2018, Commissioner Chopra was unanimously confirmed to his current position at the FTC.
While fighting on behalf consumers, Commissioner Chopra has also been a collaborative partner with all stakeholders including consumer advocates, regulated entities, trade associations, and other governmental authorities – both federal and state. His constructive approach to relationships across the financial services ecosystem has resulted in better outcomes for both consumers and industry participants.
The AFC’s membership spans lenders, banks, payments providers, loan servicers, credit bureaus, and personal financial management companies. As a result, the CFPB is the primary federal regulator for many members. While the CFPB and member companies may have differing opinions over various policy matters, we share the CFPB’s commitment to an innovative, transparent, inclusive, and customer-centric financial system. We also believe that everyone is best served when regulatory agencies are led by Senate-confirmed executives.
Commissioner Chopra’s experience as a regulator, expertise in consumer finance policy, and bipartisan track record demonstrate his commitment to public service and eminent qualification for this appointment. For these reasons, we urge you to confirm Rohit Chopra to serve as the next Director of the Consumer Financial Protection Bureau.
Sincerely,
Garry Reeder
Chief Executive Officer
American Fintech Council
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About the American Fintech Council: The mission of the American Fintech Council is to promote an innovative, responsible, inclusive, customer-centric financial system. You can learn more at www.fintechcouncil.org.
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