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The Trump administration is reportedly ready to fire Rohit Chopra, the Biden-era appointee serving as director of the Consumer Financial Protection Bureau (CFPB), and it is also considering shifting oversight of the agency to either the US Department of the Treasury Department or the White House Office of Management and Budget (OMB).

According to a Bloomberg report sourced from unnamed “people familiar with the matter,” these actions would address growing concerns among some Republican lawmakers and business leaders about the continuation of Chopra’s CFPB directorship and the agency’s rising level of enforcement actions against the financial services industry. Unlike other Biden appointees, Chopra did not resign ahead of the Trump inauguration and vowed to serve out his term through late 2026 if the president did not fire him.

No timeline was cited for these actions. The CFPB, Treasury and OMB did not comment on the Bloomberg report.

The news follows the Defund the CFPB legislation introduced in Congress by Sen. Ted Cruz (R-TX) and Rep. Keith Self (R-TX) that would effectively end transfer payments from the Federal Reserve to the agency.

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