Skip to main content

Another CFPB Official Snags Financial Executive Job

Feb 26, 2016
Ocwen Financial Corporation has appointed Dr. Jenne K. Britell and Kevin Stein to its Board of Directors

The conga line of Consumer Financial Protection Bureau (CFPB) chieftains dancing their way from the realm of federal regulatory oversight into the financial services power corridors just grew again as Meredith Fuchs, the former acting deputy director, landed a spot as senior vice president and chief counsel on regulatory issues at Capital One.

However, this is the second time this week that news of a CFPB officer getting at a top spot in the financial service world was discovered via a LinkedIn profile update. In this case, a reporter at The Hill noted Fuchs’ LinkedIn profile was changed to reflect her Capital One position–the company did not issue any press release on the hiring. Earlier this week, BuzzFeed News relied on LinkedIn to identify former CFPB Senior Counsel Mitch Hochberg as Goldman Sachs’ new vice president in charge of the compliance.

Fuchs succeeded Steven Antonakes as CFPB Deputy Director after he left to join the executive hierarchy at Boston’s Eastern Bank. Since the CFPB was launched five years ago, at least 45 high-ranking officials have joined major financial services players including JPMorgan Chase, Wells Fargo and BlackRock or have set up show at influential Washington lobbying firms.

About the author
Published
Feb 26, 2016
Fed Rate Could Be Down To 4.6% By Year's End

Inflation must hit its 2% goal for Fed to reduce rates.

New Compliance Requirements Add Challenges

Latest changes arrive at an already disruptive time in the mortgage industry

Changes Coming For Investment Properties

Using leases to qualify will require Proof

FCC Adopts New Rules To Close The 'Lead Generator Loophole'

Mortgage lead providers respond, saying this will "wipe out" several small and mid-tier businesses

Trade Associations & Lenders Stand Behind Trigger Leads Bill

Major trade associations like The MBA, NAMB, and BAC, urge action on S. 3502.

Supply And Demand Are Still Alive And Well

Treasury auctions may face weaker demand but they’re still getting done