President-elect Joe Biden speaks at an event at The Queen Theater on Friday, January 15, 2021, in Wilmington, Del.
Matt Slocum | A?
President-elect Joe Biden will appoint Rohit Chopra as director of the Office of Consumer Financial Protection, reaching out to a progressive ally of Senator Elizabeth Warren to lead the agency he founded.
Chopra, a commissioner at the Federal Trade Commission, helped launch the agency after the 2008 financial crisis and served as deputy director, sounding the alarm over rising levels of student loan debt. The choice comes as Democrats look at ways to provide student loan assistance to millions of Americans as part of a Covid-19 aid package.
Biden announced the move on Monday, along with his intention to appoint Gary Gensler, the former chairman of the Futures Trading Commission, as the next chairman of the Securities and Exchange Commission. Gensler, a former Goldman Sachs banker, has improved his oversight of complicated financial transactions that have contributed to the Great Recession.