FILE - Consumer Financial Protection Bureau Director Rohit Chopra, speaks from the South Court Auditorium on the White House complex in Washington, April 11, 2022. (AP Photo/Jacquelyn Martin, File)

Trump fires the director of the Consumer Financial Protection Bureau

· Yahoo News

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PALM BEACH, Fla. (AP) — President Donald Trump has fired the director of the Consumer Financial Protection Bureau, Rohit Chopra, in the latest purge of a Biden administration holdover.

Chopra was one of the more important regulators from the previous Democratic administration who was still on the job since Trump took office on Jan. 20.

During Trump's first term, the Republican had picked Chopra as a Democrat member of the Federal Trade Commission.

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Chopra was notified of his firing in an email from the White House, according to a person familiar with the notice who was not authorized to discuss the matter publicly and spoke on condition of anonymity.

Chopra is an ally of Sen. Elizabeth Warren, one of Trump's favorite targets, and the Massachusetts Democrat said in a statement that the agency under Chopra held “Wall Street accountable for cheating hard-working families” and prevented “the de-banking of Americans across the country, including consumers locked out of the financial system due to overdraft fees, religious organizations, and conservatives.”

Under the law, Chopra was to serve a five-year term, which meant he could have stayed on as the CFPB director. But he had publicly stated that he would leave his post if the new president asked.