CFPB Director Chopra Delivers Semi-Annual Report to Congress

On November 28, Director of the Consumer Financial Protection Bureau (CFPB) Rohit Chopra testified in a hearing before the House Financial Services Committee followed by the Senate Banking Committee on November 29. The hearing took a comprehensive look at recent rulemakings by the CFPB with Republicans expressing deep concern and a belief they will limit consumer choice and access to credit. Topics raised included junk fees, CFPB funding, open banking/Rule 1033, the small business data lending rule, and regulation on credit card late fees.

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