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Category Archives: CFPB People

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CFPB announces senior leadership changes

Posted in CFPB People

The CFPB has announced the following senior leadership changes: Stacy Canan will serve as the CFPB’s Assistant Director for the Office for Older Americans.  Ms. Canan had been serving as the deputy assistant director for the Office for Older Americans since joining the Bureau in November 2012.  Before joining the CFPB, Ms. Canan was the… More >

CFPB announces leadership changes

Posted in CFPB People

The CFPB has announced the following senior leadership changes: Chris D’Angelo will serve as the CFPB’s Associate Director for Supervision, Enforcement and Fair Lending.  Mr. D’Angelo is currently the Bureau’s chief of staff.  He replaces David Bleicken, who has been serving as the Acting Associate Director since the departure of Steven Antonakes from the CFPB last July. … More >

CFPB Sues All American Check Cashing

Posted in CFPB Enforcement, CFPB People, Hot Issues, Payday Lending, UDAAP

On May 11, 2016, the CFPB sued All American Check Cashing, Mid-State Finance and their President and owner Michael E. Gray. It alleged that the Defendants engaged in abusive, deceptive, and unfair conduct in making certain payday loans, failing to refund overpayments on those loans, and cashing consumers’ checks. The CFPB’s claims are mundane. The… More >

CFPB hires Assistant Director for Office of Small Business Lending Markets; announces other senior leadership additions

Posted in CFPB People

Earlier this week, the CFPB announced the addition of several new members to its senior leadership team. The announcement included the news that the CFPB has filled the position of Assistant Director for the Office of Small Business Lending Markets.  The CFPB’s job posting indicated that the Assistant Director would head the CFPB’s team involved… More >

PLI’s “The CFPB Speaks” Panel Discussion

Posted in Arbitration, Auto Finance, CFPB Enforcement, CFPB General, CFPB People, CFPB Rulemaking, Hot Issues

On April 4, at the Practicing Law Institute’s (“PLI”) 21st Annual Consumer Financial Services Institute in Manhattan, Alan Kaplinsky (a co-chair of the institute) moderated a panel entitled “The CFPB Speaks,” where CFPB officials shared their own insights on industry trends on their radar, priorities for the coming years, and views on certain hot-button issues…. More >

David Silberman to serve as CFPB Acting Deputy Director

Posted in CFPB People

The CFPB has announced that David Silberman will replace Meredith Fuchs as the CFPB’s Acting Deputy Director beginning next week.  Mr. Silberman has been serving as the CFPB’s Associate Director for Research, Markets, and Regulations since 2011 and will retain that position. In its announcement, the CFPB stated that Mr. Silberman will serve as Acting Deputy Director… More >

New CFPB General Counsel named

Posted in CFPB People

According to Politico, the CFPB has named Mary McLeod, formerly the State Department’s top lawyer, to be the CFPB’s new General Counsel.  Ms. McLeod will replace Meredith Fuchs, the CFPB’s current General Counsel who has also been serving as Acting Deputy Director since the departure of Steven Antonakes in July 2015. Politico also reports that… More >

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 >