Kristen Donoghue Appointed As New CFPB Enforcement Chief
The Consumer Financial Protection Bureau announced today that Kristen Donoghue would be appointed as its new Assistant Director of Enforcement, effective next Friday, November 17.
As we explained in an earlier post, Anthony Alexis, the former head of enforcement, announced his intention to step down from his position upon appointment of his successor. Donoghue is the fourth head of the enforcement office since the Bureau’s inception in 2011.
This appointment is unlikely to signify any significant changes in the CFPB’s enforcement direction. First, Donoghue has contributed significantly to the Bureau’s current enforcement policies and priorities. She has served as a CFPB enforcement attorney since the establishment of the Bureau in 2011, and most recently served as the Bureau’s Principal Deputy Enforcement Director. Second, the Assistant Director of Enforcement does not have the last word on enforcement policy at the CFPB; the Assistant Director reports up to the Associate Director for Supervision, Enforcement & Lending, a role that will continue to be held by long-time staffer (and former Chief of Staff to Director Cordray) Christopher D’Angelo.
Prior to joining the CFPB in 2011, Donoghue spent more than ten years as an insurance, securities and contract litigator at a law firm in Washington D.C.
Donoghue’s appointment is not subject to confirmation or other external approval, and so should take effect as announced.