CFPB details management changes – Financial Regulation News

The Consumer Financial Protection Bureau (CFPB) recently announced a new Deputy Director for the Office of Supervisory Policy and a new Deputy Director for the Enforcement Office.

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Lorelei Salas would join CFPB in the role of Deputy Director for Supervisory Policy while also serving as Acting Deputy Director for Supervisory Reviews. Eric Halperin joined CFPB as Deputy Director of the Enforcement Office.

The CFPB oversees banks and credit unions with more than $ 10 billion in assets, in addition to some non-bank businesses in markets that include credit reporting, debt collection, and mortgages. CFPB has returned billions of dollars to consumers and holds companies accountable for their illegal conduct.

“Lorelei Salas and Eric Halperin are both eminent officials with deep expertise in consumer protection,” said Rohit Chopra, Director of CFPB. “Together, they will be effective watchdogs in the financial market, especially when it comes to stopping repeat offenders.”

From 2016 to 2021, Salas served as the commissioner of the New York City Department of Consumer and Worker Protection, overseeing hundreds of inspectors, attorneys, and other professionals to protect city residents. Under his leadership, the agency prosecuted companies using illegal and predatory practices to target low-income consumers and immigrants.

Halperin was most recently CEO of Civil Rights Corps. From 2010 to 2014, he held senior positions in the Civil Rights Division of the Department of Justice, first as Special Advisor on Equitable Lending, and then as Acting Assistant Deputy Attorney General overseeing fair housing, fair loan and employment law enforcement programs.

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