Rohit Chopra, who served as director of the Consumer Financial Protection Bureau (CFPB) during the Biden administration, has been nominated by California Gov. Gavin Newsom to serve as secretary of the new Business and Consumer Services Agency (BCSA), the state’s version of the CFPB.
The new agency officially launches on July 1 and will go beyond regulating financial services companies. The BCSA is being designed to strengthen oversight and improve coordination across state agencies including the Department of Alcoholic Beverage Control, Alcoholic Beverage Control Appeals Board, Department of Cannabis Control, Cannabis Control Appeals Panel, California Horse Racing Board, Department of Consumer Affairs, Department of Real Estate, and the Department of Financial Protection and Innovation (DFPI)
“While federal agencies are making life more expensive and enriching special interests, California will be firing on all cylinders to make sure markets aren’t rigged against families and small businesses,” said Chopra. “By bringing together dozens of boards, bureaus, and departments under one roof, California’s new agency will work to protect the public in health care, technology, financial services, and more. I’m grateful to Gov. Newsom for the opportunity to serve as the new agency’s secretary.”
Prior to leading the CFPB, Chopra was nominated in 2017 by President Trump to serve as a commissioner on the Federal Trade Commission, a position he held until 2021. He has been a fellow at the Harvard Kennedy School since 2025. His position requires Senate confirmation and comes with a $254,450 salary.
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