Treasury Names Five Consumer Financial Protection Bureau Leaders

During a week of financial regulation funding discussions prompted by the release of President Obama’s proposed 2012 budget, the U.S. Treasury Department announced hires for the leadership of the Consumer Financial Protection Bureau (CFPB) implementation team on Thursday.

Elizabeth Warren, assistant to President Obama and special advisor to the secretary of the treasury for the CFPB, who was appointed earlier to lead the formation of the bureau, outlined the team: Raj Date as Associate Director for Research, Markets and Regulations; Patricia McCoy to lead the Mortgage and Home Equity Markets team; and Cory Stone as leader of Credit Information Markets.

Other team members announced were Zixta Martinez, who will serve as assistant director for community affairs and Elizabeth Vale as assistant director for community banks and credit unions.

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“Building a team to develop smarter financial regulations means hiring top-notch leaders with a wide range of experiences,” said Warren. “Raj Date and his team bring a wealth of experience in the financial services industry, government, non-profits, community banking, and academia that will help us build a world-class Research, Markets, and Regulations team to keep the CFPB on the cutting edge of developments that will impact millions of Americans.”

Written by Elizabeth Ecker

 

 

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  • This is becoming a greater and greater disgrace. The new Director is being left no leeway to appoint her/his own team. Instead Ms. Warren is loading the gun for the new Director. This is becoming more and more of an outrage unless Ms. Warren will be the new Director.

    If this is the way the President intends on stacking the deck so that the new Director will be taking orders from Ms. Warren no matter who that person is, this shows a total lack of confidence in the new Director, unless again the new Director is Ms. Warren. If it is not, how can a new Director justify cleaning up the old regime to bring in the team which the new Director believes will provide the best group to work with the Director to achieve the goals of this bureau? Who will want the job?

  • I agree 100% with the critic on what he or she had stated. Furthermore, our President has known from day one who was going to be on the board. Ms. Warren is only carrying out our Presidents orders.

    It was never intended for the new director to make decisions on who was going to be on the board, never!

    Not only is this a disgrace but look at the qualifications of these people. I ask you this, are these people qualified to do the following:

    1. Are they qualified to rule over the banking industry?

    2. Are they qualified to rule over the entire financial system in our country?

    3. Are they qualified to regulate and rule over Wall Street?

    4. Are these people qualified to regulate and make decisions for the entire
    mortgage banking industry?

    5. Are these people qualified to make decisions on what is best for our
    senior citizens?

    I could question many other area their qualifications do not meet the Acid Test but there is not enough room to list them all. This entire Financial Regulatory bill, which the CFPB is part of is a disaster. The sooner this bill can be repealed, the sooner we can live in less fear!

    John A. Smaldone

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