Rohit Chopra heads the Consumer Financial Protection Bureau (CFPB), the federal agency tasked with protecting consumers and their money. The CFPB in recent years has sued student loan servicers, investigated redlining — or discriminatory lending — in mortgages and other loans, and is now focusing on "buy-now-pay-later" firms, payment apps, and data harvesting by Big Tech.
Chopra, a Voorhees, New Jersey, native and Wharton grad, spoke last week at the Federal Reserve Bank of Philadelphia's sixth annual fintech conference.
"I loved living near my family during graduate school," he said. "I was at Wharton when the financial system was collapsing. I wondered, where the hell were the regulators? How many of them were auditioning for jobs at the companies they were regulating?"
