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The CFPB has a boss. But now the FTC is split 50-50.

The Senate has confirmed Democratic Federal Trade Commissioner Rohit Chopra to head up the important financial-services regulator.

Rohit Chopra, commissioner of the Federal Trade Commission (FTC), listens during a Senate Commerce, Science, and Transportation Committee hearing in Washington, D.C., U.S

Rohit Chopra, then an FTC commissioner listens at an April hearing.

Stefani Reynolds/Bloomberg via Getty Images

The Senate on Thursday approved Democratic Federal Trade Commissioner Rohit Chopra to take over the Consumer Financial Protection Bureau, leaving the trade commission in a political tie.

Chopra, a prominent tech critic who will now become director of a key financial-services regulator, was the third Democrat on the five-person commission that oversees much of federal tech policy.

The FTC is currently pursuing an antitrust lawsuit against Facebook and investigating Amazon, although the FTC's two Republican commissioners have expressed concerns about many of the moves that Democrats have taken to rein in tech companies.

The two sides may now deadlock on significant issues, including measures Khan and the other Democrats have approved in new monthly public hearings.

This month, however, President Joe Biden nominated privacy hawk Alvaro Bedoya to take over Chopra's spot.

The Consumer Financial Protection Bureau has been taking a more aggressive stance in reining in fintech companies under the Biden administration, including a recent penalty imposed on fintech lender GreenSky.

Ben Brody

Ben Brody (@ BenBrodyDC) is a senior reporter at Protocol focusing on how Congress, courts and agencies affect the online world we live in. He formerly covered tech policy and lobbying (including antitrust, Section 230 and privacy) at Bloomberg News, where he previously reported on the influence industry, government ethics and the 2016 presidential election. Before that, Ben covered business news at CNNMoney and AdAge, and all manner of stories in and around New York. He still loves appearing on the New York news radio he grew up with.

ftcrohit choprafederal trade commissionconsumer financial protection bureaucfpbmoves
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