Rohit Chopra Questions.pdf

Rohit Chopra, Director Designate of the Bureau of Consumer Financial Protection, responded to questions from Chairman Sherrod Brown regarding his commitment to diversity, equity, and inclusion. Chopra acknowledged the need to address workplace racism and discriminatory practices, particularly in hiring and promotion. He expressed commitment to the goals of Executive Order 13583, which aims to promote diversity and inclusion in the federal workforce. Chopra also described his plans to review and update the CFPB's diversity, equity, and inclusion strategic plan, establish a system for reporting progress, and commit to transparency on workplace policies. He outlined short- and long-term strategies for addressing disparities in consumer financial products and services markets, including monitoring markets and addressing unlawful discrimination. Chopra also expressed commitment to implementing diversity, equity, and inclusion training for all employees and implicit bias training for managers. He views the CFPB Director's role as promoting the financial well-being of historically underserved communities and furthering racial equity. Chopra identified areas of focus, including addressing homeowner distress, ensuring oversight of institutional compliance, and understanding business practices that disproportionately harm communities of color. He plans to work with the consumer finance sector to serve BIPOC and dismantle systemic racism's impact, holding the industry accountable and accelerating private sector efforts to achieve more inclusive leadership.