President-elect Joe Biden has chosen Rohit Chopra to be the next director of the Consumer Financial Protection Bureau, two sources said.
Chopra, a member of the Federal Trade Commission, helped launch the agency in 2011 and previously served as its assistant director, NBC News reports.
He is an ally of Sen. Elizabeth Warren, D-Mass., who proposed and built the consumer-focused agency. He is also backed by progressive groups. Bloomberg first reported Chopra's selection.
Among those who applauded the move Sunday were Randi Weingarten, leader of the American Federation of Teachers, and the consumer advocacy organization Public Citizen, which called him a "fantastic pick who will return the agency to its days of actually fighting for consumers."
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