Chopra sworn in as CFPB director

Federal Issues CFPB Consumer Finance Covid-19 Bank Regulatory

On October 12, Rohit Chopra was sworn in as Director of the CFPB. Chopra issued a message to Bureau staff, the Federal Reserve Board, FDIC Board of Directors, and members of the Financial Stability Oversight Council, applauding former acting Director Dave Uejio’s service and stressing the importance of safeguarding household financial stability. Chopra explained that promoting competition, shifting market power toward consumers and law-abiding businesses, and anticipating emerging risks remain critically important to the CFPB’s mission. Noting that this is an “extremely fragile moment for our economy and our country,” Chopra explained that the Covid-19 pandemic has “put into clearer focus the longstanding systemic and structural barriers we must overcome to build a more inclusive economy.” He added that he intends to “build on” the work Uejio has already started to address racial equality and the pandemic, and said Uejio will remain at the Bureau until he is confirmed as assistant secretary for Fair Housing & Equal Opportunity.

The CFPB also announced several leadership changes within the Bureau. Newly appointed Deputy Director Zixta Q. Martinez, whose roles at the Bureau previously included senior advisor for Supervision, Enforcement and Fair Lending, will oversee the Bureau’s Operations Division. Karen Andre, who most recently served as special assistant to the president for Economic Agency Personnel within the Executive Office of the President will serve as associate director for Consumer Education and External Affairs. Returning to the CFPB are Jan Singelmann who will serve as chief of staff. Singelmann previously served as senior litigation counsel in the Bureau’s Office of Enforcement and most recently served as counsel for Senator Sherrod Brown, whose work covers consumer finance and data privacy issues. Erie Meyer, who returns to serve as chief technologist, was previously on the implementation team that launched the Bureau and was a founding team member of the Bureau’s Office of Technology and Innovation.