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Director's statement
Published

Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, Notice of Proposed Rulemaking on FDIC Official Sign and Advertising Rule and a Rule Relating to False Advertising, Misrepresentations, and Misuse of the FDIC’s Name and Logo

Today, the FDIC Board of Directors is voting to propose enhancements to its rules relating to FDIC sign and advertising requirements, as well as misrepresentations related to deposit insurance. I support these proposals.
Director's statement
Published

Statement of Director Rohit Chopra on the LIBOR Transition Rule

In the years leading up to the subprime crisis, one opaque and easily manipulable index, LIBOR, came to dominate adjustable rate home mortgage loan contracts. In the wake of the crisis, we learned that large international banks had conspired to set the LIBOR rate in order to conceal weaknesses in the financial system and to boost their bottom line.
Director's statement
Published

Statement by CFPB Director Rohit Chopra on HUD Guidance on Special Purpose Credit Programs

Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra issued the following statement: Earlier today, the U.S. Department of Housing and Urban Development released guidance clarifying that special purpose credit programs that conform with the Equal Credit Opportunity Act and Regulation B generally do not violate the Federal Fair Housing Act.
Director's statement
Published

Statement Regarding the Advisory Opinion to Curb False Identity Matching

As the economy recovers from the pandemic, many Americans are seeking new jobs and housing. But too many have been blocked, due to false identity matching by a background screening company or another outfit that sells our personal data.
Director's statement
Published

Statement of CFPB Director Chopra on Stablecoin Report

The United States must do more to nurture a fast, safe, and competitive payments system. New technologies can help to advance this goal, which would yield enormous benefits for consumers, workers, and small businesses.