Rep. French Hill demands Biden financial regulators “immediately cease all ongoing rulemaking actions”

House Financial Services Committee members sent a letter in August to FDIC Chairman Martin Gruenberg on the concerning rise in the FDIC’s partisan policy-making and the “power-grab effort by Director [Rohit] Chopra” to regulate asset managers. 

The Washington Reporter previously covered how CFPB Director Rohit Chopra has faced criticism for his actions from Republicans due to his possible “prejudgment” on rulemaking.  Former CFPB Director Mick Mulvaney called the Chopra’s push for this regulation by the end of Biden’s term “bullshit” and said that it would likely be “grounds for a lawsuit.”