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Tags: chopra | racist | sexist

Biden Rewards Bad Behavior at CFPB, And It's Worse News for Us

consumer financial protection bureau theme
 (Josepalbert13/Dreamstime.com)

Drew Johnson By Wednesday, 06 April 2022 01:40 PM EDT Current | Bio | Archive

While the political world remains focused on President Joe Biden’s most recent high-profile nominee, pending Supreme Court Justice Ketanji Brown Jackson, another of Biden’s appointees is mired in controversy, creating a black eye for the administration.

Last September, the Senate confirmed Biden nominee Rohit Chopra to serve as Director of the Consumer Financial Protection Bureau (CFPB). The contentious confirmation process concluded with a razor-thin 50 to 48 vote in Chopra’s favor.

Many of the Senators who voted to confirm Chopra would probably like a do-over on that decision.

Prior to his selection as the head of the CFPB, Chopra was nominated to a Democratic seat on the Federal Trade Commission and held major roles at the CFPB from 2010 to 2015.

While serving as the CFPB’s Assistant Director, Chopra helped oversee a hostile and toxic work environment, rife with sexism, racism and bullying.

Speaking to a House Financial Services Subcommittee, a lawyer who worked in CFPB’s enforcement division came clean about the Bureau’s disturbing culture.

"There is a pervasive culture of retaliation and intimidation that silences employees and chills the workforce from exposing wrongdoing," the attorney said.

An employee who tried to alert the CFPB about unfair treatment of workers was "threatened."

According to the worker, once her supervisor learned about the complaints, "he isolated me, diminished my job duties, and held me accountable for work while, at the same time, prevented me from being involved in the preparation of that work."

Racism was rampant within the CFPB at the time Chopra served as Assistant Director.

In 2014, the attorney told members of Congress, "There is an entire section in Consumer Response intake that is 100 percent African-American, even the contractors, and it is called 'the plantation.' And African-Americans tell me that it is extremely hard to leave the plantation."

Black workers were even forced to sit at the back of rooms during large meetings. "My African-American friends and support staff . . . stand at the back or they sit in those chairs [toward the back]," the whistleblower told the House subcommittee. "So when you look at it, it really does appear to be the bus from a long time ago, where the African-Americans are in the back."

Women and minorities were intentionally excluded from meetings.

Managers used sexist and racist language. One manager called a CFPB employee born in another country a "f***ing foreigner" in an open meeting.

White males were paid much more than women and minority CFPB workers for doing the exact same job. According to the whistleblower, the Bureau found "there was as much as a $60,000 gap for similarly-situated employees. For example, for 2 people who went to the same law school, studied under the same professor and graduated in the same year, there was a difference of tens of thousands of dollars."

Hypocritically, Chopra, while serving as a U.S. Federal Trade Commissioner, attacked tech companies including Facebook and YouTube for profiting from "hate, abuse and exploitation." If anyone would know about “hate, abuse and exploitation" it would be Chopra, who evidently did nothing to help correct the CFPB’s toxic environment.

Attacking private business appears to be one of Chopra’s favorite pastimes.

Just last week, Chopra delivered a lecture at the University of Pennsylvania Law School in which he criticized a number of businesses by name, including Facebook, Citibank and JPMorgan Chase. During the speech he demanded regulators be given the power to determine how large companies are allowed to grow, what kinds of products businesses are allowed to sell, limit the ways companies may be funded and various other anti-American, socialist-style recommendations

Chopra is currently engaged in an effort to slap suffocating regulations on cryptocurrency. He dramatically claimed Amazon was "cheating its workers" and AT&T "victimized millions of Americans," even though neither claim held water.

In fact, Chopra seems more interested in conducting a full-out assault against America’s most successful businesses than actually protecting consumers. He goes beyond his role as a watchdog to act in ways that appear antagonistic to free market American values.

It boggles the mind that President Biden would reward someone who was in a leadership position at the CFPB at a time when the Bureau was known to be a racist, sexist and threatening workplace with the opportunity to oversee the very same agency.

The administration is only inviting more bad behavior in the future.

It’s also an incredible conflict of interest that someone who is notorious for going out of his way to make it harder for companies to do business is now in charge of consumer protection in the financial sector.

During his confirmation process, a number of senators worried that Chopra would exploit his position at the Consumer Financial Protections Bureau to abuse his power, disregard congressional oversight and take his regulatory powers to the extreme.

Thus far in Chopra’s reign, it seems those concerns were well-founded.

He has worked to make it nearly impossible for certain lenders to collect debts. Efforts to address discriminatory lending practices create ridiculous compliance burdens while doing little to actually help minority consumers.

Rohit Chopra has a questionable track record who never should’ve been allowed to oversee the same bureau he helped turn into a hostile salt-mine for so many employees, while regulating the same businesses he has a track record of unfairly attacking.

Drew Johnson is a government watchdog who serves as a budget, tech and energy policy expert at several free market think tanks. Read Drew Johnson's Reports — More Here.

© 2023 Newsmax. All rights reserved.


DrewJohnson
Rohit Chopra has a questionable track record who never should’ve been allowed to oversee the same bureau he helped turn into a hostile salt-mine for so many employees, while regulating the same businesses he has a track record of unfairly attacking.
chopra, racist, sexist
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2022-40-06
Wednesday, 06 April 2022 01:40 PM
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