President Joe Biden’s nominee to lead the Consumer Financial Protection Bureau will face a Senate confirmation hearing this coming week.
Rohit Chopra, nominated as director of the Consumer Financial Protection Bureau (CFPB), is scheduled to appear Tuesday, March 2, before the Senate Committee on Banking, Housing, and Urban Affairs.
What to expect? "Fair lending practices are likely to receive increased scrutiny under a Chopra-led CFPB," reported Aaron Nicodemus, a policy and compliance-trends writer for Compliance Week. "Senators might want to know how that scrutiny will be applied. Chopra is likely to restore the Office of Fair Lending to a free-standing unit within the CFPB, as it was during his previous time with the agency."
According to Investopedia, Chopra was confirmed as an FTC commissioner in 2018 and has since worked to increase the scrutiny of Big Tech corporations that pose risks to privacy, national security, and fair competition.
“He has actively advocated to promote fair, competitive markets that protect families and honest businesses from abuses,” the Biden administration has said.
Here's what else is happening in The Week Ahead:
- MBA Forbearance and Call Volume Survey (Monday)
- FHFA Home Price Index (Tuesday)
- MBA Weekly Applications Survey (Wednesday)
- com Weekly Housing Market Recap (Wednesday)
- S. Census Bureau New Residential Sales report (Wednesday)
- Senate Banking Committee Hearing: “Wall Street vs. Workers: How the Financial System Hurts Workers and Widens the Racial Wealth Gap” (Thursday, 10:15 a.m. EST)
- Freddie Mac Primary Mortgage Market Survey (Thursday)
- NAR Pending Home Sales report (Thursday)
- Black Knight weekly forbearance data (Friday)
- Urban Institute “Advancing Fair Housing and Racial Equity Through Federal Housing Policy” (Friday)