The Federal Trade Commission said Dec. 19 that Jessica Rich will take over the financial practices division in the agency’s Bureau of Consumer Protection.
The appointment is effective Jan. 9. Rich will fill the position previously held by Peggy Twohig, who now runs the nonbank supervision program in the Consumer Financial Protection Bureau, a separate agency created under the Dodd-Frank Act to enforce consumer finance laws.
Rich has been with the FTC for 20 years. She is currently deputy director for the consumer-protection section. Prior to that, she served as both acting associate director and assistant director of the FTC’s division of privacy and identity protection, as well as assistant director in the financial practices division. In November, she received the FTC’s “Chairman’s Award” for meritorious service.
Twohig left the FTC in 2009 to become director of the Treasury Department’s Office of Consumer Protection. Following the passage of Dodd-Frank last year, she was part of the team launching the new CFPB.