Luetkemeyer Statement on Director Chopra’s Failed Attempt to Seize Authority from FDIC
Washington, December 9, 2021
Tags: Financial Services
WASHINGTON, D.C. – Today, Congressman Blaine Luetkemeyer (MO-03) released a statement regarding a failed attempt from Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra to usurp the authority of the Federal Deposit Insurance Corporation (FDIC) Chairwoman and Board of Directors.
“If the need for a commission at the CFPB was not clear before, it certainly is now. Director Chopra is not only weaponizing the CFPB to attack U.S. industries, but he is now trying to control an entirely different regulatory agency.
“The FDIC has been run by a board for nearly 90 years. The fact that Chairwoman McWilliams publicly and unequivocally denounced Mr. Chopra’s fraudulent and unprecedented statement is not only an embarrassment for the Bureau, but it further proves how radical and power-hungry President Biden’s handpicked regulators really are.
“Perhaps Mr. Chopra mistook the word ‘director’ for ‘dictator.’ While a dictatorship might be the goal of this Administration and the Democratic Party, this is still the United States and he must follow our laws and procedures.”