TThe Senate is expected to vote this week on the appointment of Rohit Chopra, President Joe Biden’s choice to head the Consumer Financial Protection Bureau.
This week, Senate Majority Leader Chuck Schumer tabled a fence to end the nomination debate, the last step before a full vote. It comes a week after the Senate voted along party lines, 49-48, to offload Chopra’s nomination from the banking committee, where he had languished after the committee split to move him forward.
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Chopra is popular with the left, and her first foray into Washington was working with Elizabeth Warren, now a Democratic senator from Massachusetts, to create the CFPB amid the fallout from the 2008-09 financial crisis. Chopra was then nominated to take an open Democratic seat on the Federal Trade Commission after Schumer recommended him.
The CFPB, responsible for regulating consumer banking, mortgages, credit cards and other financial products, is a punch bag for Republicans who are not in favor of increased government regulation and believe that the consumer watchdog has too much power.
Warren, known as one of the most liberal lawmakers and for his hawk position in financial regulation, rented Appointment of Chopra by Biden. She called him a “fearless champion for consumers”. He was too forbidden by the Congressional Progressive Caucus, which touted its “willingness to challenge concentrated corporate power.”
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Biden cannot spare a single Democratic vote to confirm Chopra as no Republican is likely to cross the aisle during his floor vote. Even though all Democrats vote for its confirmation, including centrists such as Sense. Joe Manchin of West Virginia and Kyrsten Sinema of Arizona, Vice President Kamala Harris should always serve as the deciding vote.