Chopra, a member of the Federal Trade Commission since 2018, is best known for his efforts to reform the student loan system.
Chopra also was instrumental in setting up the bureau following the passage of the Dodd-Frank Act authorizing its creation. He served as the CFPB’s first student loan ombudsman. He also is a close political ally of Sen. Elizabeth Warren (D-Mass.), who created the idea of the CFPB.
The Supreme Court held in June the bureau’s single-director, for-cause only removal structure was unconstitutional. That gave the incoming administration the power to name its own director.
The committee also will be discussing the Securities and Exchange Commission nominee Gary Gensler at the hearing.
The public may access the hearing starting at 10 a.m. at http://www.banking.senate.gov.
RESPA News will be providing live coverage of the Chopra proceedings on Twitter. Follow @RESPANews.
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