Newsroom

November 13, 2012

WSJ: Date to leave CFPB Jan. 31

Raj Date will leave the Consumer Financial Protection Bureau Jan. 31, after the bureau finalizes a set of mortgage regulations required by the Dodd-Frank Act, The Wall Street Journal reported online in a story quoting bureau spokeswoman Jen Howard.

Date, the bureau's deputy director, succeeded Elizabeth Warren as special advisor to the Treasury secretary for the CFPB in August 2011. He was named to his current post in January. He first joined the CFPB as head of the bureau's research, markets, and regulations division.

NAFCU has worked closely with CFPB leaders and staff on the bureau's mortgage-related rules, including the combined Truth in Lending Act/Real Estate Settlement Procedure Act disclosures and the ability to pay rule. "We have enjoyed a healthy collaboration with bureau officials, including Date, on matters affecting credit unions," said Carrie Hunt, NAFCU's general counsel and vice president of regulatory affairs.

NAFCU President and CEO Fred Becker, the association's board members and senior staffhave participated indiscussions with Date and otherbureau officials and staff on issues affecting credit unions, including theproposed mortgage rules.

The WSJ piece doesn't say who might succeed Date in the number two spot. It quotes bureau spokeswoman Howard noting Date plans to "spend more time with his family" after he leaves the post.