STATEMENT: SDCC Applauds the Appointment of Rohit Chopra to lead the Consumer Financial Protectio...

SDCC Applauds the Appointment of Rohit Chopra to lead the Consumer Financial Protection Bureau

Student Debt Crisis Center (SDCC) applauds President-elect Joe Biden for nominating FTC Commissioner and former CFPB Student Loan Ombudsman Rohit Chopra to be the next Director of the Consumer Financial Protection Bureau.

“Rohit Chopra’s nomination as CFPB director means the strongest advocate for student loan borrowers to ever lead the federal consumer watchdog. His experience taking on predatory student loan servicers and greedy for-profit colleges is great news, and a welcomed change, for Americans harmed by the student loan industry,” said SDCC president and founder Natalia Abrams. “We are optimistic that Chopra will hold student loan companies accountable and will put the needs of student loan borrowers and their families ahead of executives and corporations. Our team is committed to working with Chopra, and the Bureau, to champion the rights of millions of Americans."

Over the past four years, the Trump Administration hamstrung the CFPB and prevented it from overseeing student loan companies. In fact, we sued the Trump Administration to ensure that borrower rights were protected. Now, with economic challenges created by the COVID-19 pandemic, there has never been a more urgent time to fix the broken student loan system. We look forward to working with Chopra on restoring the CFPB’s mission and creating a more just system for students, parents, and borrowers.

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