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Ex-CFPB official, Raj Date, defends his subprime mortgage startup against GOP-led ethics complaints.
August 26 -
Raj Date, the former deputy director of the Consumer Financial Protection Bureau, plans to work with banks to create cheaper short-term loans for cash-strapped customers, despite mounting regulatory scrutiny of the products.
June 7 -
Raj Date, the former deputy director for the Consumer Financial Protection Bureau, has started a bank advisory firm that will focus on consumer finance issues, including assisting mergers and acquisitions through private equity partnerships.
April 17
Raj Date has added another lending veteran to his growing financial advisory and investment firm, Fenway Summer.
The former No.2 of the Consumer Financial Protection Bureau said Thursday that he hired Mark Lefanowicz as chief executive of Fenway's mortgage venture. Lefanowicz has an extensive history in the consumer lending space, having been the chief executive of online lender, E-Loan, and chief financial officer of national wholesale mortgage lender, Provident Funding Associates. He was previously the senior vice president of internet lending at Springleaf Financial.
"Hiring Mark is a big milestone for Fenway Summer" Date said in a press release. "Recruiting an executive with such extensive financial, operational and credit expertise strengthens our firm immeasurably. Just as important, Mark shares our firm's deep-seated conviction that transparent products designed to serve consumers can be both profitable and sustainable."
In recent months, Date has made several new hires, including a handful of officials from the CFPB. Fenway Summer is partly intended to invest in mortgages that won't meet the CFPB's new Qualified Mortgage standards effective this January.
