President Donald Trump has removed Consumer Financial Protection Bureau Director Rohit Chopra from office as calls intensified for the CFPB chief to be fired.
Chopra, a protege of Sen. Elizabeth Warren (D-MA), was a surprising holdover from the Biden administration, given that many appointees resigned as Trump entered office. Chopra, 42, announced his departure in a Saturday post on social media.
“This letter confirms that my term as CFPB Director has concluded,” Chopra said. “I know the CFPB is ready to work with you and the next confirmed Director, and we have devoted a great deal of energy to ensure continued success.”
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“I hope that the CFPB will continue to be a pillar of restoring and advancing economic liberty in America, and I wish you good luck in serving our great country,” he added.
Chopra, whose term would have ended in October 2026, said he would stay on the job until Trump decided to remove him and select a new CFPB director.
Trump was being heavily pressured to remove Chopra from Wall Street. Groups like the Consumer Bankers Association called for his ouster and Wall Street Journal published an editorial wondering why Chopra still had a job. The editorial, citing sources, also said Chopra “sought to ingratiate himself” to Vice President JD Vance.
During Trump’s first term, his administration notably scaled down enforcement by the CFPB, which oversees credit cards, mortgages, payday loans, and many other financial products used by households.
Chopra is a respected figure on the Left, and his first foray into Washington was to work with Warren in setting up the CFPB amid the fallout of the 2008-2009 financial crisis. Chopra was later appointed to fill an open Democratic seat on the Federal Trade Commission after Senate Minority Leader Chuck Schumer (D-NY) recommended him.
Warren, a major opponent of the big banks, released a statement Saturday praising the CFPB under Chopra’s leadership.
“The agency has returned over $20 billion to consumers since its founding – protecting Americans from junk fees, medical debt, and predatory lending,” she said. “President Trump campaigned on capping credit card interest rates at 10% and lowering costs for Americans. He needs a strong CFPB and a strong CFPB Director to do that.
“But if President Trump and Republicans decide to cower to Wall Street billionaires and destroy the agency, they will have a fight on their hands,” Warren added.
The CFPB has long been a punching bag for Republicans, who are not fans of increased government regulation and believe the consumer watchdog holds too much power.
Senate Banking Committee Chairman Tim Scott (R-SC), who has been encouraging the administration to fire Chopra, told a small group of reporters in his office this past week that he expects conservatives will be pleased with whoever Trump appoints to lead the CFPB next.
Scott praised Chopra’s removal in a post to social media on Saturday.
“This is great news for American consumers,” Scott said. “I look forward to working with the next Director of the CFPB to increase accountability at the bureau and deliver for the American people.”
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Lindsey Johnson, president and CEO of the Consumer Bankers Association, said Chopra’s removal gives the president a chance to reform the agency.
“President Trump has a unique and important opportunity to work with Congress and implement much needed reforms to reboot and strengthen the credibility and durability of the CFPB to the benefit of consumers,” she said.
