Rohit Chopra, the director of the Consumer Financial Protection Bureau, has racked up huge penalties against big banks and has his sights set on large technology companies. Despite the looming threat of a Supreme Court case that could result in the CFPB's funding deemed unconstitutional, Chopra is optimistic about changes ahead that he thinks will provide more protection to consumers.

The Consumer Financial Protection Bureau celebrates its 12th anniversary on Friday, prompting Chopra to discuss the agency's work including a controversial proposal to set credit card late fees at $8.

In a wide-ranging interview with American Banker, Chopra discussed why banks are getting additional supervisory scrutiny for assessing multiple fees when consumers overdraw their bank accounts. He also discusses the bureau's plans for open banking that would help consumers more easily switch banks, and how the CFPB plans to create a more level playing field in the fast-changing world of real-time payments. 

Here are five of the most impactful insights from the interview, which you can read in full here: