Consumer Financial Protection Bureau Head Rohit Chopra Named to Money Magazine’s Top 50 Changemakers
Rohit Chopra, head of the Consumer Financial Protection Bureau (CFPB), Gaurav Sharma, CEO of Capitalize, and podcaster Kriti Sarav are among Money magazine’s inaugural list of changemakers, a list of top 50 innovators in entertainment, media, business, investing, politics and more, who are shaping Americans’ finances. “Each changemaker offers a unique perspective on the gaps within our financial systems — and how they’re working to improve the future for everyday consumers,” Money says.
Appointed by Biden in 2021, Money says “Chopra has already made an outsized impact on the wallets of Americans by helping overhaul how medical debt affects our credit, reduce ‘junk fees’ charged by banks, and more.” As director, Chopra is also a member of the Board of Directors of the Federal Deposit Insurance Corporation and the Financial Stability Oversight Council.
A strong ally of Sen. Elizabeth Warren (D-Mass.), the young Indian American most recently served as a commissioner on the Federal Trade Commission. At FTC, he “successfully worked to strengthen sanctions against repeat offenders, to reverse the agency’s reliance on no-money, no-fault settlements in fraud cases, and to halt abuses of small businesses,” CFPB says in a profile of Chopra. “He also led efforts to revitalize dormant authorities, such as those to protect the ‘Made in USA’ label and to promote competition,” the profile added.
Chopra previously served at the CFPB from 2010 to 2015. In 2011, the Secretary of the Treasury designated him as the agency’s student loan ombudsman, where he led the Bureau’s efforts on student lending issues. Before his government service, Chopra worked at McKinsey & Company, the global management consultancy, where he worked in the financial services, health care, and consumer technology sectors.
Sarav, a senior at the University of Chicago Laboratory School, has been building WhyFI Matter$ for more than two years. She’s tackled topics that many adults struggle to grasp, from the student debt crisis to cryptocurrency to the economics of truffle mushrooms. Money says Sarav’s podcast is “like a conversation with your cool friend about what’s going on in the world, with insights from CEOs, academics, personal finance experts and other teens sprinkled in along the way.” The young Indian American told Monet that “the important part is starting young so that when you do have to manage your money when you’re older, so you’ll have the tools to do that, and you won’t be in a state of panic.”
Sharma is the CEO and co-founder of Capitalize, a venture-backed fintech company that helps users find and transfer old retirement accounts. Before founding Capitalize, he was a senior investor at well-known hedge fund Greenlight Capital where he invested in companies across the technology, media financial services sectors. “His investments at Greenlight generated over $900 million in returns,” Money said. He has previously served in various roles at JP Morgan (Highbridge), UBS, and Morgan Stanley.