The FDIC has announced that Leonard Chanin joined the agency on March 18 as Deputy to the Chairman. In that capacity, he will advise Chairman Jelena McWilliams on consumer protection issues, including further expanding access to banking services for unbanked and underbanked consumers, strengthening consumer research functions at the FDIC, and building upon the activities of the FDIC Advisory Committee on Economic Inclusion. Leonard will also provide advice on the FDIC’s efforts to promote innovative financial services technologies.
As the FDIC’s announcement states, Leonard previously spent many years in government service, having served as Assistant Director of the CFPB’s Office of Regulations and, before joining the CFPB, having worked in the Fed’s Division of Consumer and Community Affairs, where he served as the Division’s Deputy Director. During his tenure at the Fed and CFPB, Leonard developed a reputation for being very fair and evenhanded.
I am very impressed by Chairman McWilliams’ appointment of Leonard, who I and other members of our CFS Group have known for many years. He is an excellent attorney and brings to the FDIC substantial familiarity with the consumer financial services industry.