Chopra Says States to Help Consumers as US Regulators ‘Shrug’

Some state officials are stepping up to help consumers amid affordability issues and a federal rollback of rules, says Rohit Chopra, the former head of a top US consumer watchdog.

“It’s healthcare, it’s housing, it’s food, it’s the cost of electricity, and we have seen the federal regulators in Washington basically shrug,” Chopra said Wednesday on Bloomberg Television’s “The Close.”

The recent dismantling of the Consumer Financial Protection Bureau has prompted concerns from consumer advocates, who have said it could encourage predatory practices. Chopra pointed to states to fill the void, saying they would need to be the ...