just three days after trump was sworn in, the wall street journal openly asked why is rohit chopra still employed at the cfpb? end quote. financial trade publications followed suit, questioning why chopra remained in office. president trump and his republican allies in congress now have the mechanisms to overturn some of these widely popular regulations that were brought in using the congressional review act, which allows congress to nullify new agency rules that have been finalized within the last 60 congressional working days. so some of chopra's newer reforms, reforms that directly affect the financial health of americans, could be on the chopping block, like potentially the cfpb's new rule that limits bank overdraft fees to $5. the measure is projected to save how projected to save households an estimated $5 billion annually. or the cfpb's action to remove medical debt from credit reports, a rule finalized just days before biden left office. medical debt is notoriously rife with errors, with cfpb research finding that more than 4 in 10 people with medical debt have received an inaccu

rohit chopra, the director of the consumer financial protection bureau, cutting short his five year termto social media announcing his departure, chopra addressed the american people, saying, quote, you helped us hold powerful companies and their executives accountable for breaking the law. and you make our work better. with so much power concentrated in the hands of a few agencies like the cfpb, have never been more critical. end quote, since his appointment to chair the cfpb in 2021, chopra has been a relentless enforcer of consumer protection laws, earning a reputation as a thorn on the side of wall street. under his watch, predatory banking practices were reined in and major financial institutions were forced to slash overdraft fees. in 2022, chopra ordered wells fargo to pay $2 billion in restitution after the bank improperly seized borrowers cars and homes as part of the biden administration's crackdown on junk fees. chopra also introduced a rule capping most credit card late fees at $8 a month. banking industry groups sued to block the rule, and a court temporarily blocked its enf