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Category Archives: CFPB People

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Former CFPB Deputy Director joins Eastern Bank

Posted in CFPB People

The American Banker reported earlier this week that Steven Antonakes, the former CFPB Deputy Director, has joined Eastern Bank in Boston as a senior vice president and chief compliance officer.  According to the article, the bank has $9.6 billion in assets.  As a result, the bank does not currently meet the asset threshold for CFPB supervision, which… More >

Deputy Director Antonakes to leave CFPB

Posted in CFPB People

According to the American Banker and Politico, Deputy Director Steven Antonakes is leaving the CFPB to pursue opportunities in Massachusetts, his home state.  Mr. Antonakes, the CFPB’s second-in-command, has been with the agency since 2010 and has also been serving as the CFPB’s Associate Director for Supervision, Enforcement, and Fair Lending.

Rohit Chopra to leave CFPB

Posted in CFPB People, Student Loans

The Wall Street Journal and Politico have reported that Rohit Chopra, the CFPB’s student loan ombudsman, will be leaving the CFPB next week.  According to the reports, Mr. Chopra did not indicate in his resignation letter to Treasury Secretary Jacob Lew what his next position would be. Seth Frotman, the CFPB’s Deputy Assistant Director for… More >

Shelby Draft Regulatory Relief Bill Addresses Various Residential Mortgage Issues

Posted in CFPB General, CFPB People, Mortgages, TILA / RESPA

On May 12, 2015 Senator Richard Shelby (R-AL) released a draft of a regulatory reform bill entitled the Financial Regulatory Improvement Act of 2015.  The draft bill addresses various residential mortgage lending issues, a number of which are summarized below.  The draft bill is scheduled for markup on May 21, 2015. TRID Safe Harbor.  Section… More >

Candid remarks from Director Cordray

Posted in CFPB People, Richard Cordray

Last week, Director Cordray spoke at a National Credit Union Administration town hall webinar. While his prepared remarks were not particularly revealing, the American Banker reported that Director Cordray was unusually candid during the Q&A part of the program. In discussing the CFPB’s work on a proposed rule for overdraft products, Director Cordray indicated that… More >

CFPB announces leadership additions and changes

Posted in CFPB People

Last Friday, the CFPB announced the following additions to its senior leadership team: Leandra English will serve as the CFPB’s Deputy Chief Operating Officer.  Ms. English previously served as a senior advisor and chief of staff to the Office of Management and Budget’s Deputy Director of Management.  Before joining the OMB, Ms. English helped to… More >

CFPB makes two leadership changes

Posted in CFPB People

According to the Wall Street Journal, the CFPB is making two changes in leadership.  Tony Alexis, who previously served as Deputy Director of Enforcement Field Litigation and is currently serving as Acting Director of Enforcement, will become the CFPB’s Director of Enforcement. Mr. Alexis served as an Assistant United States Attorney in the District of Columbia for 13 years. … More >

CFPB announces senior leadership change and new hires and new advisory board and council members

Posted in CFPB People

The CFPB has announced a senior leadership change and two new hires.  It also announced new appointments to its Consumer Advisory Board, Community Bank Advisory Council, and Credit Union Advisory Council. The CFPB announced the following senior leadership change and new hires: Will Wade-Gery will serve as the Assistant Director for Card and Payments Markets. … More >

CFPB: Industry should “start now” to comply with workplace diversity and inclusion standards

Posted in CFPB People, CFPB Rulemaking, Diversity and Inclusion

On June 26, 2014, I participated in a panel presentation at the MBA Strategic Markets and Diversity Summit, in Washington, D.C. Stuart Ishimaru, Director of the Consumer Financial Protection Bureau’s Office of Minority and Women Inclusion, also sat on the panel. The presentation focused on Section 342 of the Dodd-Frank Act and the proposed Interagency… More >

House Committee on Financial Services Concerned with Decreased Consumer Choice

Posted in CFPB General, CFPB People, Payday Lending

As we previously reported, the House of Representatives Financial Services Committee held a hearing on the effects of regulatory “red tape.” In her opening statement, Meredith Fuchs, General Counsel of the Consumer Financial Protection Bureau, spoke about the goals of the CFPB in seeking input from impacted entities. Before enacting a rule, she said, the… More >

CFPB and FTC Representatives Speak at Symposium on Fine Print

Posted in CFPB General, CFPB People, FTC

CFPB General Counsel Meredith Fuchs and CFPB Assistant General Counsel for Law and Policy Anne Zorc spoke last week at the Georgetown Consumer Law Society and Citizen Works’ symposium entitled “Making the Fine Print Fair.” The CFPB’s representatives focused on the Bureau’s updates to the RESPA-TILA integrated disclosures rule, about which we previously reported. According… More >

CFPB announces new members of leadership team

Posted in CFPB People

The CFPB announced today that the following “experts” have been named to senior positions on the CFPB’s leadership team:  Jeffrey Langer has joined the CFPB as the Assistant Director of Installment and Liquidity Lending Markets in the Bureau’s Research, Markets, and Regulations Division.  Mr. Langer most recently served as senior counsel at Macy’s, Inc. and… More >

Karen Morgan heading to Consumer Financial Protection Bureau

Posted in CFPB People, Mortgages

Please join us in offering well wishes to Karen Morgan, a Mortgage Banking Group associate in the Washington, D.C., office who is leaving Ballard Spahr for a new opportunity at the Consumer Financial Protection Bureau. Karen will be Attorney-Advisor in the CFPB’s Office of Supervision Policy under its Division of Supervision, Enforcement, and Fair Lending…. More >

How did Director Cordray fare on Jeopardy!?

Posted in CFPB People

CFPB Director Richard Cordray did not come close to matching his success in 1987 when he returned last night to Jeopardy!  Mr. Cordray participated in the show’s “Battle of the Decades,” which brought back former champions to celebrate the show’s 30th anniversary.   In 1987, Mr. Cordray won $45,303 as a five-time champion.  Last night, he came… More >

Richard Cordray returning to Jeopardy!

Posted in CFPB People

CFPB Director Richard Cordray, who was an undefeated, five-time Jeopardy! champion, will be returning to the show this Wednesday, February 5.  He will be participating in the “Battle of the Decades,” a special that brings back former champions to celebrate the show’s 30th anniversary.  Mr. Cordray will be part of “1980s week,” having won $45,303… More >

Jeff Langer to join CFPB

Posted in CFPB People, Student Loans, Vehicle Loans

We have learned that Jeff Langer, an experienced attorney with a strong industry background, will be joining the CFPB to serve as Assistant Director, Installment and Liquidity Lending Markets.  In that position, Jeff will oversee auto and student lending.  (Corey Stone, CFPB Assistant Director, Deposits, Cash, Collections and Reporting Markets, will continue to oversee smaller… More >

Former Colorado regulator and consumer advocate Laura Udis to join CFPB as manager for payday lending program

Posted in CFPB People, Payday Lending

We have learned that, starting Monday, Laura Udis will join the CFPB as the Payday and Small Dollar Lending Program Manager in Research, Markets and Regulations. Ms. Udis comes to the CFPB from the Consumer Federation of America, where she served as Senior Advocate for Financial Services and worked on consumer credit, debt collection and… More >

CFPB elaborates on stepped-up FCRA enforcement activity

Posted in CFPB People

Yesterday we blogged about CFPB Bulletin 2013-09, which examined the CFPB’s expectations of furnishers investigating disputes under the federal Fair Credit Reporting Act (FCRA). The FCRA was also the topic of a panel sponsored by the Consumer Financial Services Committee at the American Bar Association’s Annual Meeting in San Francisco on Friday, August 9. Much… More >

Steven Antonakes named CFPB Deputy Director

Posted in CFPB People

Director Cordray announced today that Steven Antonakes has officially been named CFPB Deputy Director.  Mr. Antonakes was appointed Acting Deputy Director in January 2013 following the departure of Raj Date.  Director Cordray also announced that Mr. Antonakes will continue to serve as Associate Director for Supervision, Enforcement, and Fair Lending.  

CFPB announces new members of leadership team

Posted in CFPB People

The CFPB announced today that the following individuals are joining its leadership team:  Cheryl Parker Rose to serve as Assistant Director for the Office of Intergovernmental Affairs.  Most recently, Ms. Rose was Deputy Director of U.S. Government Relations for the Bill and Melinda Gates Foundation, and from 2007 to 2010 she was Senior Advisor and Director… More >

Director Cordray comments on effective date of mortgage rules, prepaid card rule and new Deputy Director

Posted in CFPB People, Mortgages, Prepaid Cards

CFPB Director Richard Cordray was among the federal financial regulators who attended a closed door meeting yesterday with President Obama.  Other regulators attending the meeting included the Chairs of the Fed, FDIC and SEC.  At the meeting, President Obama was expected to urge the regulators to complete Dodd-Frank rulemaking.  The Dodd-Frank rulemaking still on the… More >

The CFPB maintains that it is not making law through its amicus program

Posted in CFPB General, CFPB People

That was the message delivered by CFPB Assistant Director, To-Quyen Truong, at a program entitled “The CFPB’s Amicus Program and Trends in Consumer Litigation” sponsored by the Committee on Consumer Financial Services of the Business Law Section, which took place at the American Bar Association Annual Meeting on Saturday, August 10 in San Francisco. Ms…. More >