News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Administrative Resignation

Orrick, Herrington & Sutcliffe LLP

Jelena McWilliams to resign as FDIC chairman

On December 31, Jelena McWilliams announced her resignation as FDIC Chairman effective February 4. McWilliams, who was appointed in 2018, noted in her resignation letter to President Biden that throughout her tenure at the...more

Hudson Cook, LLP

CFPB Bites of the Month - January Top 10

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Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the Consumer Financial Protection Bureau (CFPB) for financial services providers to consider. In this month's article, we...more

Ballard Spahr LLP

David Silberman resigns from CFPB

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David Silberman, who has served as the CFPB’s Associate Director for Research, Markets, and Regulations since 2011, announced that he has left the agency to become a part-time senior advisor to both the Center for Responsible...more

Ballard Spahr LLP

Another CFPB departure: Dan Smith leaving to join ABA

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Dan Smith, who serves as Assistant Director for the CFPB’s Office of Financial Institutions and Business Liaison, will be leaving the Bureau in June.  ...more

Ballard Spahr LLP

CFPB’s top enforcement official reported to have resigned

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According to American Banker, Kristen Donoghue, who has served as the CFPB’s Assistant Director of Enforcement since November 2017, has resigned. ...more

Ballard Spahr LLP

CFPB Associate Director Chris D’Angelo reported to be joining New York Attorney General

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According to an American Banker report, Chris D’Angelo, the CFPB’s Associate Director of Supervision, Enforcement and Fair Lending, has announced that he is leaving the Bureau to serve in the Office of the New York Attorney...more

Ballard Spahr LLP

Mulvaney Responds to Resignation of CFPB Student Loan Ombudsman

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CFPB Acting Director Mick Mulvaney recently responded to former CFPB Student Loan Ombudsman Seth Frotman’s vocal departure from the Bureau.  As previously reported, Frotman tendered his resignation in a letter—also delivered...more

Bradley Arant Boult Cummings LLP

CFPB Student Loan Ombudsman Abruptly Resigns in Protest

In another move reflecting the Consumer Financial Protection Bureau’s (CFPB) shifting focus on student lending, the CFPB’s Student Loan Ombudsman announced his resignation on August 27, 2018. In his resignation letter, Seth...more

Ballard Spahr LLP

CFPB’s Student Loan Ombudsman tenders resignation

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Seth Frotman, the CFPB’s Student Loan Ombudsman, has sent a letter to CFPB Acting Director Mulvaney tendering his resignation effective September 1, 2018.  ...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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As expected based on news over the weekend, the US and Mexico have announced a preliminary deal to revise “key portions” of the North American Free Trade Agreement. Notably, Canada is thus far left out in the cold....more

Seyfarth Shaw LLP

CFPB Commotion Continues: Leandra English Resigns from CFPB Deputy Director Post

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On July 6, 2018, Leandra English, through her attorney via Twitter, announced she would be resigning from the Consumer Financial Protection Bureau (“CFPB”)....more

Ballard Spahr LLP

Leandra English, CFPB Deputy Director, to resign and drop lawsuit against Acting Director Mulvaney and President Trump

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Leandra English, who was appointed CFPB Deputy Director by former Director Cordray before his November 2017 resignation, announced today that she will resign as Deputy Director early next week. Ms. English indicated that her...more

Allen Matkins

Federal Regulator's Departure Foments Move To Tighten Oversight Of Finance Lenders

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Richard Cordray's resignation last fall as head of the federal Consumer Financial Protection Bureau may result in more stringent regulation of California Finance Lenders. In February, Assemblymember Monique Limón introduced...more

Stinson LLP

Will the New Year Bring a New CFPB? Planning in the Wake of Uncertainty

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The Consumer Financial Protection Bureau (CFPB) was created under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) in July 2010 in the wake of a financial crisis, as an independent agency tasked with...more

A&O Shearman

US Consumer Financial Protection Bureau Director to Step Down

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US Consumer Financial Protection Bureau Director Richard Cordray sent a memo to his staff announcing that he plans to leave his position by the end of the month...more

Ballard Spahr LLP

Federal court asked to decide who is CFPB Acting Director

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Last Friday, November 24, effective at midnight, Richard Corday resigned as CFPB Director.  Earlier in the day, the CFPB issued a press release announcing that Mr. Cordray had named Leandra English, the CFPB’s Chief of Staff,...more

Butler Snow LLP

Changes Ahead At the Consumer Financial Protection Bureau

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Richard Cordray was confirmed as the head of the Consumer Financial Protection Bureau (CFPB) in 2013 under President Barack Obama. The CFPB was formed by Congress following the 2008 financial crisis. Although his term ends...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Fresh off news of decreased SEC enforcement in the past year and the outgoing FDIC chief’s concerns about weakening regs, we’ve got word that the OCC is dialing back its regulatory bent in an effort to return to its “natural...more

Ballard Spahr LLP

Director Cordray announces resignation plans to CFPB staff

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According to widespread media reports, Director Cordray informed CFPB staff members today that he expects to resign as CFPB Director by the end of this month. ...more

Ballard Spahr LLP

Director Cordray delivers second September speech in Ohio refueling rumors of Ohio gubernatorial run

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On September 12, 2017, Director Cordray appeared as the keynote speaker at the Seventh Annual Ohio Land Bank Conference. Director Cordray’s appearance came on the heels of his speech at the Cincinnati AFL-CIO Labor Day...more

Ballard Spahr LLP

Director Cordray praises his work at CFPB at Cincinnati AFL-CIO Labor Day picnic but does not resign and launch his campaign for...

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Ever since it was announced that Richard Cordray would be delivering a speech at the annual Cincinnati AFL-CIO Labor Day picnic, there was wide speculation that he would use that occasion to launch his campaign to run for...more

Ballard Spahr LLP

Director Cordray keeps mum on departure plans

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Director Cordray, responding today to a letter from Rep. Jeb Hensarling who chairs the House Financial Services Committee, stated that “I have no further insights to provide” on whether he intends to serve his full term as...more

Ballard Spahr LLP

Director Cordray to remain at CFPB beyond Sept. 1; Rep. Hensarling seeks confirmation of Director Corday’s departure plans

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Despite the various signs suggesting Director Cordray would resign before Labor Day, it now appears that he intends to remain as Director until at least a date in September. ...more

Ballard Spahr LLP

A fourth sign of Director Cordray’s imminent departure?

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Last Friday, we blogged about a new sign that Director Cordray’s resignation may be imminent. That sign was the CFPB’s posting on its website of a notice of a meeting on September 7, 2017 of the Fall 2017 Credit Union...more

Ballard Spahr LLP

Another sign that Richard Cordray will resign soon, perhaps next week?

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We have previously blogged about two upcoming events that have led to speculation that Richard Cordray is about to resign as Director of the CFPB. The first event is a speech he is giving in Cincinnati, Ohio at a Labor Day...more

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