Search for: "Rohit Chopra"
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22 Feb 2024, 12:47 pm
(This point was made in a 2021 law review article by former FTC Commissioner Rohit Chopra and current FTC Bureau of Consumer Protection Samuel Levine.) [read post]
9 Feb 2024, 6:00 am
Legal and Regulatory Developments SPOTLIGHT: Lawmakers Clash on CFPB Digital Payment RulePayments Dive – February 1, 2024 Three Democratic U.S. senators wrote an open letter on Wednesday to Rohit Chopra, director of the Consumer Financial Protection Bureau, expressing support for a proposed rule that would let the bureau oversee digital payment apps, such as Zelle and Venmo. [read post]
5 Jan 2024, 6:00 am
The CFPB’s Chopra Cites a Need for Competition to Cap Card Acceptance CostsDigital Transactions News – December 22, 2023 Having taken aim at credit card late fees and interest rates, and having targeted non-bank digital wallet providers, Consumer Financial Protection Bureau Director Rohit Chopra has now indicated his regulatory agency is turning its attention to credit card acceptance costs. [read post]
4 Jan 2024, 9:05 pm
. ─ Several members of FSOC, in their capacities as heads of their agencies, have indicated an interest in further research and potential application of their individual agencies’ authorities to AI; for example: Director of the Consumer Financial Protection Bureau (CFPB) Rohit Chopra stated that: ─ The CFPB would scrutinize use of AI in consumer finance contexts, including bias in lending and algorithmic advertising (available here); and ─… [read post]
28 Dec 2023, 9:05 pm
In lieu of our regular Friday feature—”the Week in Review”—The Regulatory Review is today recapping some of the top regulatory news from the past year, including major U.S. [read post]
22 Dec 2023, 6:00 am
Raphael Warnock of Georgia and John Fetterman of Pennsylvania made the plea in a letter Monday to CFPB Director Rohit Chopra. [read post]
1 Dec 2023, 6:00 am
CFPB’s Chopra Says AI Could Give ‘Enormous Control’ to FewLaw360 – November 28, 2023 (subscription required) Consumer Financial Protection Bureau Director Rohit Chopra said Tuesday that he is worried the rise of generative artificial intelligence technology could concentrate “enormous” power within the grasp of a few companies and their top executives. [read post]
8 Nov 2023, 11:00 am
The move is intended to address perceived “regulatory arbitrage by ensuring large technology firms and other nonbank payments companies are subjected to appropriate oversight,” according to CFPB Director Rohit Chopra. [read post]
8 Nov 2023, 10:15 am
Vance of Ohio led all the Republican members of the Senate Banking Committee in addressing a letter to Attorney General Merrick Garland and Rohit Chopra, Director of Consumer Financial Protection Bureau (CFPB). [read post]
7 Nov 2023, 8:32 am
A group of eleven Republican Senators who are members of the Senate Banking Committee have sent a letter to CFPB Director Rohit Chopra and Attorney General Merrick Garland to urge the CFPB and DOJ to retract the joint statement the agencies issued last month regarding “the potential civil rights implications of a creditor’s consideration of an individual’s immigration status under the Equal Credit Opportunity Act (ECOA). [read post]
31 Oct 2023, 2:06 pm
As we previously noted, the CFPB, under director Rohit Chopra, continues to make medical financing and debt collection a priority of his agenda. [read post]
30 Oct 2023, 11:50 am
In a comment letter sent last week to Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra, a key financial industry trade group raised concerns that a recent edition of the CFPB’s Supervisory Highlights did not provide sufficient details about the facts or analysis behind the Bureau’s conclusions regarding certain exam findings. [read post]
17 Oct 2023, 9:01 pm
However, in the FTC press release issued in connection with the Proposed Rule, CFPB Director Rohit Chopra stated that “the CFPB will enforce the [FTC’s rule, if finalized,] against violators in the financial industry and ensure that these firms play fairly. [read post]
13 Oct 2023, 6:00 am
CFPB’s Chopra Warns of ‘Financial Censorship’ in PaymentsPayments Dive – October 9, 2023 Citing concerns of “financial censorship,” Consumer Financial Protection Bureau Director Rohit Chopra said last week the agency is weighing regulatory steps to better protect consumers in the payments market. [read post]
12 Oct 2023, 9:05 pm
CFPB Director Rohit Chopra said that “many large banks erect obstacle courses and impose junk fees to answer basic questions. [read post]
12 Oct 2023, 9:14 am
” “Fair access to credit is crucially important for building wealth and strengthening household financial stability,” said CFPB Director Rohit Chopra. [read post]
2 Oct 2023, 5:40 am
There is no special exemption for artificial intelligence,” CFPB Director Rohit Chopra said in a statement. [read post]
27 Sep 2023, 11:23 am
“Research shows that medical bills have little predictive value in credit decisions, yet tens of millions of American households are dealing with medical debt on their credit reports,” noted CFPB Director Rohit Chopra in a statement. [read post]
21 Sep 2023, 9:01 pm
Consumer Financial Protection Bureau Director Rohit Chopra stated that creditors should be able to explain the reasoning for an adverse decision and that there “is no special exemption for artificial intelligence. [read post]
19 Sep 2023, 6:00 am
Prior to her appointment, Khan co-authored an essay with her former boss (and later, briefly, her FTC colleague) Rohit Chopra in the University of Chicago Law Review titled “The Case for ‘Unfair Methods of Competition’ Rulemaking,” in which she laid out her vision for the FTC. [read post]
