California Gov. Gavin Newsom on Wednesday announced the appointment of former federal regulator Rohit Chopra to serve as secretary of the state’s newly created Business and Consumer Services Agency (BCSA).
“As the Trump administration turns its back on consumers, we need strong and fearless leaders to keep protecting Californians,” Newsom said in a statement.
The BCSA was formed through a state government reorganization that was approved last year and will officially launch on July 1. The agency will consolidate dozens of boards, bureaus and departments that oversee licensing, enforcement and market conduct across several industries, including housing, real estate brokerage and mortgage lending.
For housing professionals, the most direct impact will come through the placement of the Department of Real Estate (DRE) and the Department of Financial Protection and Innovation (DFPI) under the new umbrella, alongside other business- and consumer-facing regulators. DFPI already oversees state-licensed mortgage lenders, servicers, brokers and certain fintech firms, while DRE regulates real estate agents and brokerages.
Chopra said the new agency is designed to coordinate enforcement and rulemaking across health care, technology, financial services and other sectors, with an eye toward affordability and fairness in the marketplace.
“While federal agencies are making life more expensive and enriching special interests, California will be firing on all cylinders to make sure markets aren’t rigged against families and small businesses,” Chopra said.
Chopra served as director of the CFPB from 2021 to 2025 under President Joe Biden, focusing heavily on so-called “junk fees,” servicing practices and fair lending. During his tenure, the CFPB recovered nearly $10 billion in refunds and penalties from companies that broke the law, according to the governor’s office.
He previously served as a commissioner at the Federal Trade Commission (FTC) from 2018 to 2021 after being unanimously confirmed by the Senate in 2017. At the FTC, he focused on penalties for repeat violators and more aggressive antitrust enforcement.
The BCSA secretary’s position requires state Senate confirmation and carries annual compensation of $254,450. Chopra is registered as a Democrat.
Flávia Furlan Nunes reported and wrote this article with drafting assistance from HousingWire Automation, an editorial tool that helps transform announcements and industry data into HousingWire-style news coverage.