CFPB Director Rohit Chopra: Do His Words Speak Louder Than His Actions?
We first share our perspective on Director Chopra\u2019s approach to his leadership role and use of the CFPB\u2019s authority, his priorities, and political dynamics impacting the CFPB. We then discuss the CFPB\u2019s activity during Director Chopra\u2019s initial months in office, including its request for information on \u201cjunk fees\u201d and criticism of overdraft and credit card late fee practices, requests to large tech firms regarding payment services, fintech focus (and use of risk-based supervision), use of UDAAP to address market competition, orders seeking information from buy-now-pay-later companies, changes to UDAAP exam procedures to target non-credit discrimination, encouragement of state AGs, exams of institutional student lending, and injunctive relief focus.
Alan Kaplinsky, Ballard Spahr Senior Counsel, hosts the conversation, joined by Michael Gordon and Tom Burke, partners in the firm\u2019s Consumer Financial Services Group, and Michelle Hogan, an associate in the firm\u2019s Litigation Group.