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President-elect Joe Biden has nominated Rohit Chopra to be director of the Consumer Financial Protection Bureau. A member of the Federal Trade Commission, Chopra was previously assistant director of the consumer bureau. Biden said that Chopra "led efforts to spur competition in the student loan financing market, develop new tools for students and student loan borrowers to make smarter decisions, and secure hundreds of millions of dollars in refunds for borrowers victimized by unlawful conduct by loan servicers, debt collectors, and for-profit college chains."
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