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New CFPB Director Promotes Deputy Directors

Not two days after his recess appointment, newly minted ""Consumer Financial Protection Bureau"":http://www.consumerfinance.gov/ (CFPB) director Richard Cordray named de facto leader Raj Date his second-in-command.

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""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 in a statement.

""With Raj's advice and support as the Deputy Director ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô and

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with the CFPB's full authorities in place ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô 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,"" he added.

Date has led the CFPB since it went live in July, serving as day-to-day operations chief and testifying before Congress on its behalf. With degrees from the University of California and Harvard Law, he earned marks from the financial services industry with past roles at Capital One and Deutsche Bank.

""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.

""I look forward to continuing to work with him and all of the talented and dedicated staff at the CFPB,"" he said. ""This agency has a critical role to play in our consumer financial markets. We have to get this right ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô and I know Rich will do the job.""

Cordray made a string of other appointments at the bureau. He promoted deputy enforcement director Kent Markus to assistant director for the office of enforcement.

He previously served as first assistant attorney general of Ohio and deputy chief of staff at the Justice Department.

About Author: Ryan Schuette

Ryan Schuette is a journalist, cartoonist, and social entrepreneur with several years of experience in real-estate news, international reporting, and business management. He currently lives in the Washington, D.C., area, where he freelances for DS News and MReport.
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