Cordray Names Date, Markus as CFPB Department Heads

Consumer Financial Protection Bureau (CFPB) Director Richard Cordray, recently appointed by President Obama despite months of resistance by Senate Republicans, announced that Raj Date and Kent Markus will serve as department heads.

Date, who has been leading the bureau’s day-to-day operations since its July launch and will serve as the agency’s first deputy director. He joined the CFPB as head of the bureau’s Research, Markets, and Regulations division and was tabbed as the special advisor on the CFPB shortly after the bureau launched.

“Raj Date is one of the most extraordinary colleagues I have ever worked with. His experience and knowledge of the financial services industry is invaluable to the CFPB. And, for the past six months, his thoughtful leadership has set a strong tone that will forever guide the CFPB’s approach,” Cordray said. “With Raj’s advice and support as the Deputy Director—and with the CFPB’s full authorities in place—I look forward to building on the work already underway to fulfill the CFPB’s mission of making consumer financial markets more fair, transparent, and competitive.”

“Rich is a terrific leader who is both brilliant and passionate. American consumers deserve to have a man of his talents looking out for them,” Date said of Cordray. “I look forward to continuing to work with him and all of the talented and dedicated staff at the CFPB. This agency has a critical role to play in our consumer financial markets. We have to get this right—and I know Rich will do the job.”

Markus, who has been the deputy assistant director of the Office of Enforcement, will fill the position of assistant director of the Office of Enforcement. Before joining the CFPB, Markus was the chief legal counsel to the Ohio Governor, having earlier served as first assistant attorney general of Ohio and as the deputy chief of staff at the Department of Justice and counselor to the United States Attorney General.

 

Questions or Concerns? Contact Matt Halvorson, Anthem Editor: mhalvorson@nwcua.org.

Posted in Compliance.