Two Indian-Americans in Money magazine’s top 50 changemakers
Two Indian-Americans are among the 50 significant people in business, journalism, entertainment, investment, politics, etc. who are influencing how Americans manage their money, according to Money magazine. The Consumer Financial Protection Bureau’s (CFPB) Rohit Chopra and the fintech company Capitalize’s Gaurav Sharma have received recognition for their “unique perspective on the gaps inside our financial institutions – and how they’re striving to change the future for regular customers.” The 40-year-old Chopra’s responsibility as the CFPB’s director is to safeguard families against dishonest and abusive financial practices.
Chopra was chosen by US President Joe Biden to the position in 2021, and according to Money, “Chopra has already made an outsized impact on Americans’ wallets by helping reform how medical debt impacts our credit, lower ‘junk fees’ levied by banks, and more.” In addition to serving as a Director, Chopra serves on the boards of the Financial Stability Oversight Council and the Federal Deposit Insurance Corporation.
“Chopra, who is 40 years old, is a youthful financial regulator, yet he has considerable expertise. In reality, he resembles Forrest Gump in terms of finances “Money reported. Beginning in 2018, Chopra worked successfully to tighten penalties for serial offenders, reduce the FTC’s reliance on no-fault, no-money settlements for fraud cases, and stop unfair treatment of small firms. Before joining the government, Chopra worked for McKinsey & Company, a large management consulting firm, where he focused on consumer technology, healthcare, and financial services.
Chopra has a BA from Harvard University and an MBA from the University of Pennsylvania’s Wharton School. Sharma, an Australian by origin, is the CEO and Co-Founder of Capitalize, a venture-backed fintech business with a focus on the retirement savings market, located in New York. Sharma had held positions with JP Morgan, UBS, Morgan Stanley, and Greenlight Capital before launching Capitalize. He made the decision to start a business that makes it simpler after realizing how difficult it is for most people to understand their retirement accounts. Really thrilled to be among some incredible inventors, Sharma tweeted, “and really humbled to be chosen by @Money as one of 50 Changemakers for 2023.”
Sharma’s initial goal for Capitalize was to simply discover an old account and make it simple for him to transfer money into an IRA. However, Sharma told Money that “our main aim is helping the issue of saving for retirement.” Beginning in 2018, Chopra worked successfully to tighten penalties for serial offenders, reduce the FTC’s reliance on no-fault, no-money settlements for fraud cases, and stop unfair treatment of small firms. Before joining the government, Chopra worked for McKinsey & Company, a large management consulting firm, where he focused on consumer technology, healthcare, and financial services. Chopra has a BA from Harvard University and an MBA from the University of Pennsylvania’s Wharton School.
Sharma, an Australian by origin, is the CEO and Co-Founder of Capitalize, a venture-backed fintech business with a focus on the retirement savings market, located in New York. Sharma had held positions with JP Morgan, UBS, Morgan Stanley, and Greenlight Capital before launching Capitalize. He made the decision to start a business that makes it simpler after realizing how difficult it is for most people to understand their retirement accounts. Really thrilled to be among some incredible inventors, Sharma tweeted, “and really humbled to be chosen by @Money as one of 50 Changemakers for 2023.” Sharma’s initial goal for Capitalize was to simply discover an old account and make it simple for him to transfer money into an IRA. However, Sharma told Money that “our main aim is helping the issue of saving for retirement.”
