Newark, February 2, 2025--New Jersey Citizen Action (NJCA) and New Jersey Appleseed today condemned Trump administration’s firing of Consumer Financial Protection Bureau Director (CFPB) Rohit Chopra.
Under Chopra’s leadership the CFPB has led the fight to protect American consumers against financial discrimination, predatory lending, and other forms of financial or consumer malpractice, holding powerful corporations accountable when they are found guilty of these practices. The CFPB has launched efforts to save consumers billions in junk fees charged by banks and financial corporations, brought greater transparency to consumers financial markets, cracked down on financial institutions, individuals and entities who repeatedly and illegally harm consumers, and helped shield Americans from harmful data brokering practices.
The Bureau has also protected homeowners and prospective homeowners from redlining and other forms of housing discrimination, as well as tackling illegal foreclosures and evictions. The CPFB is a key ally in the fight to protect consumers from the worst effects of medical and nursing home debt.
“Thanks to Director Chopra and the hard work of the Bureau, millions of Americans and New Jerseyans have a better shot at financial stability,” said Beverly Brown Ruggia, NJCA Financial Justice Program Director. “The Trump administration’s firing of Chopra shows they prioritize the profits of corporations—even those engaged in discriminatory, illegal practices—over the financial well-being of consumers. We need New Jersey’s elected leaders and officials to stand with all of us in condemning this decision.”
“The CFPB has been a key ally in pushing for policies to better protect New Jerseyans from the worst effects of medical debt, especially with regards to how it impacts their credit,” said Laura Waddell, NJCA Health Care Program Director. “We call on our New Jersey Congressional delegation to condemn this decision, and work to ensure the CFPB’s mission and work in this critical area, and on other issues concerning New Jersey consumers, continues.”
“Although the firing of Director Chopra was anticipated, its significance and negative import cannot be underestimated,” said Renee Steinhagen, Executive Director for NJ Appleseed. “As an appointee whose tenure was intended to transcend a change in administration, the premature dismissal of Director Chopra does not bode well for the very consumers the Consumer Financial Protection Bureau, under his leadership, has been fervently protecting. As consumer financial justice advocates, we understand that our work is cut out for us: preventing repeal of regulations that have provided a palpable benefit for consumers and resisting a 180-degree shift in the agency's focus away from such beneficiaries.”