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 Lending and the Financial Solutions Lab of the Financial Health Network and a member of FinRegLab’s group of advisors. … Continue Reading
President Trump to appoint Mick Mulvaney CFPB Acting Director
According to media reports, President Trump is expected to name Mick Mulvaney, the current Director of the Office of Management and Budget, to serve as CFPB Acting Director upon Director Cordray’s resignation. The President’s announcement may come as soon as today.
Assuming the media reports are accurate, they indicate that the White House has decided that David Silberman, the current CFPB Acting Deputy Director, does not automatically become Acting Director upon Director Corday’s resignation pursuant to the Dodd-Frank Act provision that provides that the Deputy Director shall “serve as acting Director in the absence or unavailability of the Director.” … Continue Reading
Director Cordray announces resignation plans to CFPB staff; Ballard Spahr to hold Dec. 5 webinar
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. His replacement with a successor appointed by President Trump will undoubtedly have a significant impact on the agency’s priorities and initiatives. On December 5, 2017, from 12 p.m.… Continue Reading
Why David Silberman, the CFPB’s Acting Deputy Director, will not succeed Richard Cordray (if and when he resigns)
On July 31, I published a blog post in which I suggested that, if Director Cordray resigns, Treasury Secretary Mnuchin would be the obvious and logical person to serve as CFPB Acting Director until President Trump nominates, and the Senate confirms, Director Cordray’s successor. I stated that the President clearly has the authority to appoint an Acting Director under the Federal Vacancies Reform Act of 1998 (the “Vacancies Act”).… Continue Reading
David Silberman to serve as CFPB Acting Deputy Director
The CFPB has announced that David Silberman will replace Meredith Fuchs as the CFPB’s Acting Deputy Director beginning next week. Mr. Silberman has been serving as the CFPB’s Associate Director for Research, Markets, and Regulations since 2011 and will retain that position.
In its announcement, the CFPB stated that Mr. Silberman will serve as Acting Deputy Director “while a search for a replacement is conducted.” … Continue Reading
CFPB reports payday and deposit advance loan findings at Senate payday loan hearing
David Silberman, the CFPB’s Associate Director of Research, Markets and Regulations, made the CFPB’s April 2013 white paper on payday and deposit advance loans the focus of his testimony at the hearing held on July 24 by the Senate’s Special Committee on Aging entitled “Payday Loans: Short-term Solution or Long-term Problem?” … Continue Reading
CFPB responds to arbitration study inquiry from Republican House members
Last April, the CFPB announced that it was beginning its study of consumer arbitration as mandated by Section 1028 of the Dodd-Frank Act. Last week, nearly a year after that announcement, David Silberman, the CFPB’s Associate Director for Research, Markets, and Regulations, sent a letter to four Republican House members responding to their letter inquiring about the arbitration study.… Continue Reading