GOP House Financial Services Committee members accuse CFPB Director Chopra of McCarthyism and extortion

Yesterday CFPB Director, Rohit Chopra, appeared before the House Financial Services Committee to answer questions from committee members, as he does at least twice a year. I haven’t watched the recording yet but according to reports in Law360 and the American Banker, some Republican committee members accused Chopra or the CFPB of being an appendage to President Biden’s re-election campaign, McCarthyism, focusing “entirely on beating the stuffings out of the free enterprise system,” and being “the greatest extortionist in the history of this country.” It’s unhelpful when name-calling takes the place of reasoned arguments.