Could Chopra Start at CFPB This Week? Cordray Interview May Offer Hint

Now that he has been confirmed by the Senate to be the next Director of the Consumer Financial Protection Bureau, the wait has been on to see when Rohit Chopra would actually start working there. Richard Cordray, himself a former Director of the CFPB who is now the Chief Operating Officer of the Department of Education’s Federal Student Aid (FSA) office, may have revealed that Chopra’s tenure at the CFPB is going to start this week, as part of an interview that Cordray did.

In the interview, in which Cordray talks about the Biden administration’s priorities for student loan oversight and whether he expects more debt relief claims and uncovering fraudulent activity, Cordray mentions Chopra, talking about how Chopra was the CFPB’s student loan ombudsman when Cordray ran the Bureau.

“He was our liaison to the Department of Education,” Cordray says in the interview. “Very knowledgeable in this area. Now, he is going to be starting next week [as] the head of the CFPB.”

Chopra’s start date has not yet been officially announced. The interview was published on Sunday, so it was likely conducted last week, which means the “next week” that Cordray is referring to could be this week.

Summarizing his thoughts, Cordray said:

“What we’re trying to do with FSA is we’re trying to deliver on some of these promises made to people that borrowers are going to be treated fairly, that students are going to get their money’s worth, that the taxpayers get to get their money’s worth. I take that very seriously, but I understand that it’s easy to talk — it’s harder to walk the walk or deliver on what’s been said.” 

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