White House fires CFPB Director Rohit Chopra

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. -- More...