US reforms should help the financially vulnerable

The Domestic Policy Caucus appeared in the Financial Times with an op-ed.

Your article says that US president Joe Biden has tapped Rohit Chopra to lead the Consumer Financial Protection Bureau ("Battle looms over subprime lending regulation under Biden," Inside Business, February 9).

As you report, Chopra has "spoken out strongly against what he sees as predatory lending practices, in areas from education finance to payday loans". Now activists will be pressing Chopra on a host of these financial reforms and he will probably want to satisfy them with swift and bold action.

I think we can all agree that a government agency like the CFPB should work for consumers.