Skip to main content

Ex-FDIC Head Sheila Bair Joins Avant Board

Phil Hall
Apr 01, 2016
GTCR has announced that it has formed a partnership with mortgage technology executive Scott Happ to build a leading business, through the acquisition of Optimal Blue Holdings, a cloud-based software as a services (SaaS) provider

The revolving door that transports Washington, D.C. regulators into the financial services world has taken a major spin, with former Federal Deposit Insurance Corporation (FDIC) Chairwoman Sheila Bair joining the board of directors of Avant, a Chicago-based online lender.

"Sheila's proven track record and expertise in the financial services and regulatory spaces will be invaluable to the Avant team," said Al Goldstein, co-founder and CEO of Avant. "We are excited to bring Sheila on board as we prepare for the next phase of Avant's strategic growth."

Avant focuses on personal and auto lending and has originated more than $3 billion in loans through its Web site. Bair, who is currently president of Washington College in Chestertown, Md., joins a board that also includes two major financial industry figures: James (Jim) Robinson III, co-founder and General Partner at RRE Ventures, and Siddarth N. (Bobby) Mehta, president and CEO of TransUnion. This is the second time that Bair has taken a board position after leaving the FDIC in 2011—she served from 2014 to 2015 on the board of Banco Santander.

Apr 01, 2016
CFPB Reports Trends In Financial Assistance

The latest developments from this study reveal that most consumers have exited the payment assistance they received at the start of the pandemic.

Analysis and Data
Jul 14, 2021
CFPB Orders GreenSky To Refund $9M In Unauthorized Loans

The consent order requires GreenSky to refund or cancel up to $9 million in loans for the customers harmed by this illegal conduct.

Regulation and Compliance
Jul 13, 2021
CFPB Warns Landlords And Consumer Reporting Agencies To Report Accurate Rental Information

Inaccurate rental or eviction information can unfairly block families and individuals from safe, affordable housing.

Regulation and Compliance
Jul 01, 2021
FHFA Mandates Quarterly Fair Lending Reports

FHFA issued orders for all enterprises to submit quarterly Fair Lending Reports with data and information to improve the FHFA’s capabilities. 

Regulation and Compliance
Jul 01, 2021
FHFA Follows CFPB To Protect Borrowers Once COVID-19 Foreclosure And Eviction Moratoriums End

The Federal Housing Finance Agency made it clear that Fannie Mae and Freddie Mac servicers are not permitted to make first notice or filing for foreclosure that would be prohibited by the CFPB protections for borrowers affected by COVID-19.

Regulation and Compliance
Jun 30, 2021
CFPB Finds Evidence Of Redlining And Deceptive Acts In 2020

Enforcement actions resulted in more than $124 million in consumer remediation and civil money penalties in 2020

Regulation and Compliance
Jun 29, 2021