|Commissioner of the Federal Trade Commission|
|Assumed office |
May 2, 2018
|Preceded by||Joshua D. Wright|
|Education||Harvard University (BA)|
University of Pennsylvania (MBA)
Rohit Chopra is an American consumer advocate and a Commissioner on the Federal Trade Commission. He is closely associated with efforts to reform the student loan system in the United States. He was previously Assistant Director of the Consumer Financial Protection Bureau. He was appointed by the Secretary of the Treasury as agency's first Student Loan Ombudsman, established by the Dodd–Frank Wall Street Reform and Consumer Protection Act. On October 19, 2017, the White House announced its intent to nominate Chopra to fill the open Democratic seat on the Federal Trade Commission. On April 26, 2018, the United States Senate unanimously confirmed Chopra's nomination to serve as a Commissioner on the Federal Trade Commission. On May 2, 2018, Chopra was sworn in as a Commissioner and took office.
Chopra received his undergraduate degree from Harvard University and his MBA from the Wharton School of the University of Pennsylvania. Before entering government, he worked at McKinsey & Company, the global management consultancy.
After the 2008 financial crisis and the passage of the Dodd-Frank Act, Chopra worked on the implementation team to launch the Consumer Financial Protection Bureau. After the launch, Chopra served as the agency's "student loan pointman."
Chopra is a vocal critic of the mounting levels of student loan debt in the United States. In 2012, he released analysis revealing that outstanding student debt exceeded $1 trillion. He co-authored a report with Holly Petraeus that uncovered a student loan overcharging scheme impacting members of the military. During his tenure, the agency sued Corinthian Colleges and ITT Educational Services, both of which dissolved.
On February 28, 2018, the Senate Commerce Committee reported Chopra's nomination to serve as a Commissioner on the Federal Trade Commission to the full U.S. Senate for its consideration. On April 26, 2018, the full United States Senate unanimously confirmed Chopra's nomination.
He took office on May 2, 2018.
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- Douglas-Gabriel, Danielle (June 17, 2015). "Consumer watchdog says goodbye to student loan pointman" – via www.washingtonpost.com.
- Andriotis, AnnaMaria; Zibel, Alan (December 4, 2014). "CFPB Official Speaks Loudly on Student Loans" – via www.wsj.com.
- Mitchell, Josh; Jackson-Randall, Maya (March 22, 2012). "Student-Loan Debt Tops $1 Trillion" – via www.wsj.com.
- "Special announcement for Corinthian students - Consumer Financial Protection Bureau". Retrieved July 3, 2018.
- "CFPB Sues For-Profit College Chain ITT For Predatory Lending - Consumer Financial Protection Bureau". Retrieved July 3, 2018.
- Mitchell, Josh (March 14, 2017). "Student-Loan Defaults Rose by 1.1 Million in 2016" – via www.wsj.com.
- Berman, Jillian. "More than 1 million borrowers defaulted on their student loans last year". Retrieved July 3, 2018.
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- FTC commissioner Rohit Chopra: Facebook settlement ($5B fine) doesn't fix the issue (CNBC on YouTube, Jul 24, 2019)