Rohit Chopra, director of the Consumer Financial Protection Bureau (CFPB), said that the agency plans to establish "dedicated units" within its enforcement and supervision divisions to better detect repeat corporate offenders, Reuters reported. In his first speech on enforcement policy since becoming CFPB director in October, Rohit Chopra said regulators have failed to hold large institutions and their executives to the same standards as their smaller counterparts. The bureau is looking at "structural remedies" to hold big companies more accountable for repeated misconduct, such as limiting a company's leverage, revoking government-granted privileges and banning certain business practices, he said. Chopra added that the CFPB will boost collaboration with state licensing officials so that states can better ascertain whether a company's business licenses should be suspended or whether assets should be liquidated. "Regulators in the U.S. have a history of being able to terminate charters and licenses," Chopra said. "Today, this should be considered for all institutions when the facts and circumstances warrant it, not just when it happens to a small firm."
