Open Banking Expo can reveal that Rohit Chopra, the former director of the Consumer Financial Protection Bureau (CFPB) in the US, has joined the speaker line-up at Open Banking Expo Canada on June 17.
Chopra will be speaking in a Keynote Fireside Chat titled, ‘Unfinished Business: The next chapter for Open Banking policy in the US’.
Former CFPB director Rohit Chopra
He will offer a candid take on where the US is falling short and will reveal what he believes needs to happen for Open Banking to become a reality.
In October last year, the CFPB finalised its Personal Financial Data Rights rule, under which, financial institutions, credit card issuers, and other financial providers will be required to release an individual’s personal financial data and transfer it to another provider at the consumer’s request for free.
Chopra’s tenure as director of the CFPB came to an end in February this year, having served in the role since 2021 when he was nominated by former President Joe Biden, but the future of the US’s Open Banking rule remains uncertain.
In a letter to President Donald Trump, dated February 1, Chopra wrote that he was “proud that the CFPB has done so much to restore the rule of law”.
“We’ve led efforts across the government to stop the scourge of junk fees in banking and across sectors of the economy, to tame the harmful impacts of medical bills riddled with errors, and to limit the creep of surveillance by data brokers that puts our sensitive data in the hands of foreign adversaries,” he wrote.
“We’ve worked to preserve relationship banking, while harnessing the power of technology to open up opportunities for new businesses and spur competition that benefits consumers.”
Chopra joins a line-up of more than 80 speakers, including representatives from the major Canadian banks, credit unions, fintechs and policymakers, with sessions that are set to explore how to harmonise Canadian standards with the US, as well as the future of money and financial inclusion.
Catch Rohit Chopra in conversation at 12pm on the Main Stage. Open Banking Expo Canada is taking place on June 17, at the MTCC in Toronto – find out more about the agenda and exhibitors here.
