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Director's statement
Published

Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, Notice of Proposed Rulemaking on FDIC Official Sign and Advertising Rule and a Rule Relating to False Advertising, Misrepresentations, and Misuse of the FDIC’s Name and Logo

Today, the FDIC Board of Directors is voting to propose enhancements to its rules relating to FDIC sign and advertising requirements, as well as misrepresentations related to deposit insurance. I support these proposals.
Press release
Published

CFPB Finds Members of the Reserves and National Guard Paying Millions of Dollars in Extra Interest Each Year

Today, the Consumer Financial Protection Bureau (CFPB) released research revealing that Reserve and National Guard members called to active duty are paying an extra $9 million in interest every year because they are not always receiving the benefit of their right to rate reductions under the Servicemembers Civil Relief Act.
Press release
Published

CFPB Takes $19 Million Action Against Loan Doctor and Edgar Radjabli for Offering Fake High-Yield Bank Accounts

Today, the Consumer Financial Protection Bureau (CFPB) took action against Loan Doctor to resolve the CFPB’s claims that the company and its founder, Edgar Radjabli, broke the law by deceiving consumers into thinking they were depositing funds into a guaranteed return savings product within a commercial bank.