New CFPB Enforcement Chief To Be Appointed
While an official announcement has not yet appeared on the CFPB’s website, it has been widely reported that Kristen Donoghue will be appointed the CFPB’s new Assistant Director of Enforcement, effective November 17, 2017. She will replace Anthony Alexis.
Ms. Donoghue has served as a CFPB enforcement attorney since the CFPB’s establishment in 2011, and most recently served as the CFPB’s Principal Deputy Enforcement Director. Her appointment is not expected to result in any significant changes to the CFPB’s enforcement approach since she is reported to have been a significant contributor to the CFPB’s current enforcement policies and priorities.
In addition, she will report to the Associate Director for Supervision, Enforcement & Lending, a position that is currently held by Christopher D’Angelo. Mr. D’Angelo has also been at the CFPB since 2011 and served as Director Cordray’s Chief of Staff before becoming Associate Director.
Ms. Donoghue spoke last year in Chicago at the Practicing Law Institute (PLI) Annual Consumer Financial Services Institute (which I co-chaired). She was a member of “The CFPB Speaks” panel (which I moderated). We expect her to speak on the same panel at the 2018 Annual Institute at one or more locations.