Senate Committee Announces Hearing Date for Chopra Confirmation

The Senate Banking Committee announced yesterday that it will hold its confirmation hearing for the nomination of Rohit Chopra to be the next director of the Consumer Financial Protection Bureau on Tuesday, March 2.

The hearing, which will be conducted remotely, will be livestreamed and available to be watched via the Banking Committee’s website. The committee will also hold its confirmation hearing on the nomination of Gary Gensler to be the Chairman of the Securities and Exchange Commission on the same day.

Chopra was nominated to run the CFPB earlier this month by President Biden. Most recently, Chopra was a commissioner with the Federal Trade Commission, but before that, worked at the CFPB under former director Richard Cordray.

If confirmed by the Senate Banking Committee, Chopra’s nomination would go before the entire Senate for approval. If and when he is confirmed by the Senate, then he may be sworn in as the director of the CFPB. The agency is currently being run by Acting Director Dave Uejio, who replaced Kathleen Kraninger when she was asked by President Biden to resign last month.

The confirmation hearings for Chopra and Gensler will be the first confirmation hearings for Sen. Sherrod Brown, the new chairman of the Senate Banking Committee, who took over control of the committee when Democrats regained control of the Senate in January.

While there have been indications that some of the other nominees put forth by President Biden may have troubles being confirmed by the Senate, there have been no such rumblings for Chopra’s nomination. He was unanimously confirmed by the Senate to his FTC post back in 2018.

Those interested in reading what Chopra has had to say about debt collection and the role of government can click here to see some of his past remarks.

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