Dear Readers,
We now know who will be the next person to lead the Consumer Financial Protection Bureau (CFPB).
President Joe Biden nominated Federal Trade Commission member Rohit Chopra to head the bureau.
Chopra is no stranger to the bureau. He helped set it up following the passage of the Dodd-Frank Act and served as the CFPB’s first student loan ombudsman.
We may know who will lead the bureau. However, we have no idea what direction it will take. That’s unfortunate.
The American Land Title Association and other business groups have endorsed a bi-partisan leadership structure for the bureau in which both Republicans and Democrats would have appointees. Several other federal agencies have a similar structure.
What the bureau’s present structure creates is an agency driven by the whims of the party controlling the White House. American consumers would be best served by a CFPB absent any political agendas.
The Title Report
Mark Lowery
Editorial Director