By Katalina M. Bianco, J.D.
The Consumer Financial Protection Bureau is an agency driven in large measure by its director. One year after being sworn in as the third director of the CFPB, Rohit Chopra’s tenure thus far signals a 180-degree turn from the business-friendly Bureau of its last director back to the Richard Cordray era of supervision and enforcement. The director of the CFPB plays a large role not only in the workings of the Bureau but in the stance of both Democrats and Republicans. The support for, and criticism of, the CFPB has flipped with each of its three directors.
The CFPB has undergone extreme change throughout its relatively short lifespan from “cop on the beat” to business-friendly agency, and back to top consumer watchdog under Chopra.
To read more about the CFPB’s full-circle pivot under Chopra, click here.