Raj Date and Fenway Summer LLC has hit a triple for the ages. In a highly acclaimed move, Fenway Summer added to its depth and its ability to execute on its vision by adding three more top CFPB officials. Garry Reeder, chief of staff; Chris Haspel, senior advisor for mortgage servicing and securitization; and regulatory
Raj Date
No takers for CFPB Deputy Director
By Alan S. Kaplinsky on
Posted in CFPB People, Regulatory and Enforcement
It is not surprising to me that Director (yes, he is still the Director until a court rules otherwise) Cordray has had difficulty finding a Deputy Director to fill Raj Date’s position. (Last Thursday, he appointed Steven Antonakes to serve temporarily in that position.) Mr. Date was a highly qualified individual with lots of gravitas.…
Raj Date to leave CFPB
By Alan S. Kaplinsky on
Posted in CFPB People, Regulatory and Enforcement
So much for my speculation that Raj Date would succeed Richard Cordray as CFPB Acting Director should Mr. Cordray leave the Bureau next year to run for Ohio governor as expected by many pundits. Bloomberg has reported that a CFPB spokeswoman confirmed that Mr. Date, who currently serves as CFPB Deputy Director, plans to leave…
Date’s remarks underscore Bureau’s focus on mortgage reform
By CFPB Monitor on
Posted in Mortgages, Regulatory and Enforcement
On the heels of Director Cordray’s remarks about the CFPB’s focus on debt collection Deputy Director Raj Date spoke to mortgage industry members at MBA’s National Secondary Market Conference in New York City on May 7, 2012 and reminded the industry that “the place we’re spending most of our time is the mortgage market.”
Mr.…
Raj Date: Acting CFPB Director?
By Alan S. Kaplinsky on
Posted in CFPB People, Regulatory and Enforcement
Lost in all the sturm and drang accompanying the President’s recess appointment of Richard Cordray as Director of the CFPB is the fact that one of Director Cordray’s first official acts was to appoint Raj Date as Deputy Director. Why is that important? Assuming that Cordray’s appointment is not invalidated by a court, he will…
Rhetoric for change
By Daniel JT McKenna on
The web has been abuzz about the letter that Majority Whip Richard Durbin (D. Il) and Jack Reed (D. RI) of the Banking Committee rather publicly sent to Raj Date last Thursday. Purportedly out of concern that banks will try to “sneak fees past” consumers after having mostly abandoned the monthly debit card fee program,…
What was the President thinking?
By Alan S. Kaplinsky on
It has been reported in the popular press that President Obama sharply criticized a major bank for imposing a $5 per month charge to make up for the loss of interchange fees resulting from the Durbin Amendment to Dodd-Frank. He said that this is why we need the CFPB, implying that the CFPB could prohibit…
CFPB’s final Ability-to-Repay rule anticipated in early 2012
By Ballard CFS Group on
As my fellow blogger, Chris Willis, indicated in his prior post, Raj Date, the current acting director of the Consumer Financial Protection Bureau, has been actively previewing the CFPB’s forthcoming rule-making priorities. Indeed, in another speech at the American Banker’s Regulatory Symposium last week, Mr. Date elaborated on the CFPB’s goals with regard to…
Musical chairs at the CFPB
By CFPB Monitor on
Posted in CFPB People, Regulatory and Enforcement
Less than two weeks after Obama nominated Richard Cordray for CFPB Director, Elizabeth Warren has swept out of town and returned to Harvard. Meanwhile, Cordray has not made any public announcements, posted comments about his nomination on the CFPB’s website, or otherwise been heard from in any significant way. He seems determined to stay quiet…
CFPB leadership: immune from political influence?
By Ballard CFS Group on
Posted in CFPB People, Regulatory and Enforcement
The Treasury Department issued a press release announcing that Raj Date will replace Elizabeth Warren as Special Advisor to the Secretary of the Treasury on the CFPB, effective August 1. A blog I read understands that Mr. Date will replace Professor Warren as Special Advisor to the President.
Critics of the current structure of the…