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17 May 2024, 6:00 am
CFPB, DOT Take Aim at Airline RewardsPayments Dive – May 10, 2024 Consumer Financial Protection Bureau Director Rohit Chopra took aim at airline frequent flier rewards programs and credit card industry players Thursday, saying the programs “evolved from a perk for an airline’s most loyal customers to a multi-billion-dollar currency market. [read post]
16 May 2024, 5:30 pm
Now, the Bureau and Director Rohit Chopra will be emboldened to move forward with haste in the remaining months of President Biden’s current term. [read post]
10 May 2024, 7:23 am
Chamber of Commerce, the Fort Worth Chamber of Commerce, the Longview Chamber of Commerce, the American Bankers Association, the Consumer Bankers Association, and the Texas Association of Business filed a complaint against the CFPB and Rohit Chopra as Director of the CFPB challenging this Final Rule. [read post]
10 May 2024, 5:30 am
The report was released in conjunction with a hearing co-hosted with the Department of Transportation and featuring remarks and a moderated panel discussion with CFPB Director Rohit Chopra and Secretary of Transportation Pete Buttigieg, along with panelists from consumer groups, policy advocacy organizations, financial institutions, and airlines. [read post]
26 Apr 2024, 6:00 am
Legal and Regulatory Developments SPOTLIGHT: CFPB Internal Shakeup to Supercharge Fintech, Big Bank CopsBloomberg Law – April 19, 2024 (subscription may be required) The Consumer Financial Protection Bureau’s enforcement and supervision teams, including those overseeing financial technology firms and other nonbank lenders, will soon get a direct line to Director Rohit Chopra to correct potential violations. [read post]
19 Apr 2024, 6:00 am
The U.S. agency, led by Director Rohit Chopra, and the EC, with direction from Commissioner Didier Reynders, have also zeroed in on studying big tech companies and their involvement in digital payments, with a particular interest in fraud. [read post]
12 Apr 2024, 6:00 am
CFPB, DOJ Boost Teamwork on CasesPayments Dive – April 9, 2024 The Consumer Financial Protection Bureau and the Department of Justice are working together more closely to address antitrust issues and criminal conduct, CFPB Director Rohit Chopra said at a Washington event Monday. [read post]
9 Apr 2024, 6:21 am
The release of the CFPB gaming Report was accompanied by a statement from Rohit Chopra, the CFPB’s Director. [read post]
5 Apr 2024, 6:00 am
Rohit Chopra, director of the U.S. [read post]
2 Apr 2024, 9:00 am
We are highlighting the fireside chat between AG Ford and CFPB Director Rohit Chopra, as they discussed a variety of important topics and collaboration with State AGs. [read post]
31 Mar 2024, 9:01 pm
In recent months, the U.S. banking regulators have proposed policy statements focused on providing greater insight on the agencies’ review of bank mergers and acquisitions under the Bank Merger Act (BMA).[1] On January 29, 2024, the Office of the Comptroller of the Currency (OCC) published a notice of proposed rulemaking (OCC NPRM) to (1) amend its procedures to eliminate expedited processing and the use of streamlined application forms for bank mergers and (2) adopt a policy statement that… [read post]
29 Mar 2024, 6:00 am
., thanks to a pending Consumer Financial Protection Bureau rule proposal, the agency’s director, Rohit Chopra, warned of “dangers” in setting standards for the new realm. [read post]
27 Mar 2024, 9:01 pm
The Federal Deposit Insurance Corporation (FDIC) released a Proposed Statement of Policy on Bank Merger Transactions (the Proposal) that outlines the FDIC’s views on its jurisdiction and expectations with respect to each statutory factor under the Bank Merger Act (BMA). [read post]
8 Mar 2024, 11:24 am
If you’ve been focused on only the high-level statements from the CFPB, you might already expect Rohit Chopra to fashion himself and the agency as “pro-consumer. [read post]
8 Mar 2024, 4:18 am
The following is a guest post from Rohit Gupta, systems architect for Congress.gov. [read post]
5 Mar 2024, 5:00 am
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
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
(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]
18 Jan 2024, 9:01 pm
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]
