Statement by Los Angeles County Department of Consumer & Business Affairs Director Rafael Carbajal on the U.S. Senate confirmation hearings of Rohit Chopra to become director of the Consumer Financial Protection Bureau
LOS ANGELES – “The Los Angeles County Department of Consumer and Business Affairs is eager to support a reinvigorated Consumer Financial Protection Bureau under the leadership of Rohit Chopra, who was nominated as director by President Joe Biden and Vice President Kamala Harris with a Senate Nomination Hearing this morning. Mr. Chopra was one of CFPB’s primary architects. As California’s only County-based consumer protection agency, we look forward to again working in partnership with CFPB to help protect consumers in LA County and beyond.
“From its inception following the Great Recession, Mr. Chopra and others built the CFPB to play a critical role in both consumer education and the regulation of the financial services industry. DCBA has proudly worked in collaboration with the Bureau as a regional partner agency. Beginning in 2014, DCBA worked alongside CFPB on their pilot of Your Money, Your Goals, a financial empowerment toolkit for community volunteers. Our shared efforts helped finalize and improve the initiative. This work also was a catalyst in DCBA’s development of our Center for Financial Empowerment, which currently works to build economic stability and household wealth for residents in LA County with low to moderate incomes.
“Also, we look forward to Mr. Chopra reinstating CFPB’s previous critical work in regulating traditional banks and non-traditional financial services, including high-cost loan providers. DCBA has led LA County’s efforts in curbing the impact of high-cost loans. We are ready to roll up our sleeves and support efforts that will help our hardest hit-workers and families turn the corner on this pandemic toward economic recovery.”
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The Department of Consumer and Business Affairs serves consumers, businesses, and communities through education, advocacy, and complaint resolution. Our mission is to create a fair and vibrant marketplace for consumers and businesses. Learn more at dcba.lacounty.gov.
