Schumer Touts Former CFPB Official for FTC Commissioner
Senate Minority Leader Chuck Schumer (D- NY) spoke this week with President Trump about filling a Democratic vacancy on the Federal Trade Commission’s (FTC) governing board. Senator Schumer recommended the President add Rohit Chopra, a fellow at the Consumer Federation of America, to sit as a minority commissioner at the agency. Chopra previously served as an assistant director at the Consumer Financial Protection Bureau (CFPB) where he pushed for reforms on student loan debt, among other things.
The President is not obligated to accept Schumer’s suggestion to the post. The FTC is an independent federal agency that monitors and regulates industries for consumer protection and antitrust concerns. The agency possesses the authority to enforce many of the same federal laws on consumer finance currently supervised by the CFPB. The FTC’s five member commission currently has three vacancies.