The nominations, which last for seven-year terms and which the Senate must confirmed, will bring the FTC to its capacity of five.
Chopra, a Senior Fellow at the Consumer Federation of America, is widely recognized for his expertise in consumer financial services and economic issues facing young people. The New York resident's nomination is for the remainder of the seven-year term expiring September 25, 2019. During his tenure at the CFPB, Chopra was involved in enforcement actions that secured hundreds of millions of dollars of relief for student-loan borrowers, and he is credited as having established a state-of-the-art student-loan complaint system.
Filling the Democrat seat, if approved, is Chopra, a senior fellow at the Consumer Federation of America and former assistant director at the US government's Consumer Financial Protection Bureau.
The Secretary of the Treasury also appointed him as the agency " s student loan ombudsman.
In 2016, Chopra served as Special Adviser to the Secretary of Education.
Shares Trading down at $315.51 (LMT) Lockheed Martin Next Generation Missile…
Argus reaffirmed a buy rating and set a $290.00 target price on shares of Lockheed Martin Corp.in a report on Friday, August 5th. Water Island Capital Llc decreased Vca Inc (NASDAQ:WOOF) stake by 100,470 shares to 116,092 valued at $10.72 million in 2017Q2.
To fill an empty Democratic seat on the commission, the president tapped Chopra, a financial services expert who is a veteran of the CFPB and is now at the advocacy group Consumer Federation of America. Before taking up government service, he was an associate at McKinsey & Company, where he worked in the financial services and consumer technology sectors. He was also the recipient of a Fulbright Fellowship.
Simons, a partner at the law firm Paul, Weiss, Rifkind, Wharton & Garrison, was a director of the FTC's Bureau of Competition under the George W. Bush administration from 2001 to 2003, heading up its antitrust enforcement arm.
Rohit Chopra is now a Senior Fellow at the Consumer Federation of America and was previously an Assistant Director at the CFPB.
The FTC has five commissioner positions and only two of them are now filled.
For some time Trump has been expected to replace Acting Chairman Maureen Ohlhausen as well as fill three empty commission seats, two of which are Republican, plus one Democrat or independent.