WASHINGTON — The Treasury Department announced Wednesday that it has made three hires for key positions in the Consumer Financial Protection Bureau.
Richard Cordray, who has been an advocate against foreclosure rescues as part of the Ohio attorney general's office and sometimes a banking industry critic, was chosen to lead the agency's enforcement division. Leonard Chanin, currently the Federal Reserve Board's deputy director of its division of consumer and community affairs, will head up the agency's rule-writing team.
David Silberman, the director of the AFL-CIO's task force on labor law will head the CFPB's card markets division.
"For far too long, American families who have worked hard, played by the rules, and lived up to their financial obligations have struggled against a large, complex financial system with no cop on the beat to enforce the law," Elizabeth Warren, assistant to the president and special advisor to the Treasury secretary, said in a press release. "Richard Cordray has the vision and experience to help us build a team that ensures every lender in the marketplace is playing by the rules. I'm also pleased to have Leonard Chanin playing a key role in building an effective and efficient rule writing team and David Silberman keeping us on the cutting edge of the trends and changes in the cards markets."
