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Junking Junk Fees (with Rohit Chopra)
Manage episode 418159400 series 2468847
This week, Nick and Goldy sit down with Rohit Chopra, the Director of the Consumer Financial Protection Bureau, to explore the agency's efforts to lower financial costs for working Americans. From cracking down on credit card late fees to tackling medical debt on credit reports and regulating bank overdraft charges, Director Chopra sheds light on the CFPB's various initiatives to promote transparency and competition in financial products and services. Chopra argues that by advocating for consumer rights and protections, the CFPB is shaping a more equitable economic landscape for all Americans.
UPDATE: This episode was recorded before yesterday’s breaking news that a Texas judge issued a last-minute order temporarily blocking the CFPB’s plan to cap credit card late fees. Find more information about the injunction, and the Chamber of Commerce’s case against the cap, here: https://www.cnn.com/2024/05/11/business/credit-card-late-fees-regulation-cfpb/index.html
Rohit Chopra is the Director of the Consumer Financial Protection Bureau (CFPB), a federal agency dedicated to protecting consumers in the financial marketplace. Prior to leading the CFPB, he served as a Commissioner at the Federal Trade Commission, where he focused on promoting fair competition and protecting consumers from deceptive practices.
Twitter: @chopracfpb, @CFPB
Further reading:
Submit a complaint about a financial product or service
CFPB Bans Excessive Credit Card Late Fees, Lowers Typical Fee from $32 to $8
Website: http://pitchforkeconomics.com
Twitter: @PitchforkEcon
Instagram: @pitchforkeconomics
Nick’s twitter: @NickHanauer
349 episodes
Manage episode 418159400 series 2468847
This week, Nick and Goldy sit down with Rohit Chopra, the Director of the Consumer Financial Protection Bureau, to explore the agency's efforts to lower financial costs for working Americans. From cracking down on credit card late fees to tackling medical debt on credit reports and regulating bank overdraft charges, Director Chopra sheds light on the CFPB's various initiatives to promote transparency and competition in financial products and services. Chopra argues that by advocating for consumer rights and protections, the CFPB is shaping a more equitable economic landscape for all Americans.
UPDATE: This episode was recorded before yesterday’s breaking news that a Texas judge issued a last-minute order temporarily blocking the CFPB’s plan to cap credit card late fees. Find more information about the injunction, and the Chamber of Commerce’s case against the cap, here: https://www.cnn.com/2024/05/11/business/credit-card-late-fees-regulation-cfpb/index.html
Rohit Chopra is the Director of the Consumer Financial Protection Bureau (CFPB), a federal agency dedicated to protecting consumers in the financial marketplace. Prior to leading the CFPB, he served as a Commissioner at the Federal Trade Commission, where he focused on promoting fair competition and protecting consumers from deceptive practices.
Twitter: @chopracfpb, @CFPB
Further reading:
Submit a complaint about a financial product or service
CFPB Bans Excessive Credit Card Late Fees, Lowers Typical Fee from $32 to $8
Website: http://pitchforkeconomics.com
Twitter: @PitchforkEcon
Instagram: @pitchforkeconomics
Nick’s twitter: @NickHanauer
349 episodes
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