On 1/20/21, CFPB Director Kathleen Kraninger announced via Twitter that she was resigning from the CFPB at the request of newly sworn in President, Joe Biden. This request and subsequent resignation comes as no surprise as national media outlets have recently reported that Biden was set to nominate Rohit Chopra as the Director of the CFPB. Chopra, a former McKinsey & Company consultant, worked with Senator Elizabeth Warren on establishing the CFPB before heading up the student lending division of the CFPB in 2011. These changes in the CFPB, along with other future changes, should help to facilitate an interesting four years for regulatory compliance professionals.
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