12.1.23
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.