Washington, DC – This week, President-elect Biden announced his intention to appoint Gary Gensler as the next chairman of the United States Securities and Exchange Commission and Rohit Chopra as the next director of the Consumer Financial Protection Bureau. After his first stint at CFPB, Chopra joined the Center for American Progress in 2015 as a senior researcher to work on issues facing youth and the economy, including the impact of growing student debt.

In response, Andres Vinelli, Vice President of Economic Policy at CAP, issued the following statement:

With the appointments of Gary Gensler and Rohit Chopra, President-elect Biden marked the start of a new era for financial regulation and consumer protection. They are two seasoned regulators who will give firm hands to major agencies at a critical time and turn the page on four years of letting big business run the show in Washington. As former Chairman of the Commodity Futures Trading Commission, Gary Gensler has a proven track record as a tough but fair regulator who promotes the interests of investors, consumers and the economy as a whole. His extensive experience in the US Treasury Department, combined with his industry and regulatory expertise, makes him the ideal candidate to head the Securities and Exchange Commission.

Charlotte hancock, Senior Director of Communications and Digital Strategy at CAP’s Generation Progress, added the following statement on Chopra’s appointment:

A champion of student loan borrowers and a staunch defender of American consumers, Rohit Chopra will restore the founding mission of the Consumer Financial Protection Bureau of protecting Americans from bad actors who seek to exploit them. Chopra’s long experience in fighting for the rights of student loan borrowers and victims of for-profit universities, including his past work at Generation Progress as CAP Principal Investigator, makes him an ideal candidate for this job – and someone young Americans can trust. defend our generations.

For more information or to speak with an expert, contact Allison Preiss at [email protected]