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5 Mar 2024, 5:00 am by Daniel J. Gilman
And, as it happens, Rohit Chopra, the current CFPB director, served as an FTC commissioner from 2018 right up until he assumed leadership of the CFPB (and perhaps even a bit after that, via “zombie votes”). [read post]
4 Mar 2024, 4:31 am by Daniel J. Gilman
  Chair Khan’s first chief of staff was someone unqualified for most staff positions in the Bureau of Competition (no antitrust experience, no law degree), Bureau of Consumer Protection (still no law degree), or Bureau of Economics (no economics degree) and spent only a short term working in the FTC for Commissioner Rohit Chopra, where she was known for antagonizing FTC staff. [read post]
22 Feb 2024, 12:47 pm by Alden Abbott
(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 by Michelle
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]
18 Jan 2024, 9:01 pm by Noah Brown
Consumer Financial Protection Bureau director Rohit Chapra argued that the proposed rule would “close a longstanding loophole that allowed many large banks to turn overdraft fees into a massive junk fee harvesting machine. [read post]
5 Jan 2024, 6:00 am by Michelle
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 by renholding
. ─ 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 ─ “[E]xtremely opaque… [read post]
28 Dec 2023, 9:05 pm by Noah Brown
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 by Michelle
“The biggest risk of gen AI is not using gen AI,” said Rohit Chauhan, head of AI at Mastercard. [read post]
21 Dec 2023, 9:00 am by Karen Tani
The members of the Program Committee are Kevin Arlyck, Juandrea Bates, Ofra Bloch, Wes Chaney, Rohit De, Lisa Ford, José Argueta Funes, Kate Masur, and Sarah Seo. [read post]
1 Dec 2023, 6:00 am by Michelle
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]
24 Nov 2023, 9:30 pm by Karen Tani
“Himanshu Agarwal, an associate professor at Jindal Global Law School; Sebastian Spitz, a doctoral student in Sociology at Harvard; and Rohit Sharma, a researcher at the Mittal Institute”  “presented archival research on the history of punishment in India during a webinar panel Monday morning hosted by Harvard’s South Asia Institute. ... [read post]
8 Nov 2023, 11:00 am by Donnelly L. McDowell
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 by Raymond G. Lahoud
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]
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 by Edward J. Cyran and Corey Scher
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 by Brian Turetsky
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 by renholding
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 by Michelle
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]