Consumer Financial Protection Bureau Director Rohit Chopra indicated that he has no plans to resign his post ahead of President-elect Donald Trump’s inauguration.
A 2020 US Supreme Court ruling in Seila Law LLC v. CFPB gave the president the power to fire the CFPB’s director without cause by eliminating removal protections that were put in place in the 2010 Dodd-Frank Act, which created the CFPB.
When asked whether he planned to resign before Trump takes office next month, Chopra made clear the president-elect is likely going to have to use the powers the Supreme Court granted him.
“We serve and ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.