Rohit Chopra

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Rohit Chopra

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artificial intelligence

·Oct. 5, 2023

AI, if used properly, can improve loan decisioning

Artificial intelligence (AI) can significantly improve loan decisioning accuracy, but several factors must be considered to maximize that effectiveness. Luckily, given some care and consideration, Zest AI’s chief legal officer Teddy Flo said they can be easily applied.

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Rohit Chopra Director of the Consumer Financial Protection Bureau of the United States

·Oct. 25, 2022

CFPB announces open banking rule

CFPB director Rohit Chopra lobbed a surprise grenade onto the expo floor Tuesday morning by announcing plans for an open banking rule.

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cfpb

·Oct. 19, 2023

CFPB Proposes Rule to Accelerate Open Banking

In a long awaited move, the CFPB proposed a rule to improve consumer access to their financial data and drive the shift to open banking.

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Phil Goldfeder, CEO of American Fintech Council, right, interviews Rohit Chopra, Director, Consumer Financial Protection Bureau, on the keynote stage at Fintech Nexus USA 2023 at the Javits Center in New York City. | John K. White, Fintech Nexus

·Jun. 13, 2023

Global newsletter: Open banking rules are coming…next year (probably)

In a blog post published yesterday, CFPB director Rohit Chopra suggests we now have a (somewhat) definitive timeline for implementation.

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Certification for quality control, which ensures that the company product meets its standards. On the virtual screen, there is a concept.

·Mar. 22, 2022

Understanding the CFPB’s new UDAAP guidance: Is consumer harm lurking in your institution?

CFPB Director Rohit Chopra has made it clear that he embraces an expansive view of the Bureau's authority to remedy inequities.

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BNPL-Buy Now Pay Later shopping online icon concept. Businessman using a computer to BNPL. Online shopping. Paying after delivery.

·Dec. 27, 2022

BNPL providers should consider FTC’s ‘compliance checks’

BNPL providers should consider the FTC's suggestion to "conduct a compliance check," including reviewing their policies and procedures.

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cfpb

·Jul. 28, 2023

CFPB highlights value of cashflow underwriting

Fintechs have touted the importance of cashflow data in underwriting. This week, the CFPB published their evidence to support the approach.

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Rohit Chopra at a desk speaking into a mic

·Jun. 14, 2023

Global newsletter: Chopra scolds P2P services for weak fraud fight

CFPB director Rohit Chopra was back in front of the senate banking committee Tuesday, where he brought his focus on fraud in the P2P payments space.

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cfpb

·Apr. 14, 2022

Invocation of personal liability signals CFPB bite matches its bark

CFPB Director Rohit Chopra made it clear that repeat offenders of consumer protection laws will face harsher penalties than ever before.

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