The Federal Deposit Insurance Corp. has named Mark Pearce, an official in the North Carolina banking department, to lead a new division devoted to consumer compliance.
Pearce, who since 2009 has been the chief deputy commissioner of banks in North Carolina, was appointed as the director of the FDIC’s division of depositor and consumer protection.
The FDIC in August announced the creation of the division to focus on consumer rules in the wake of the sweeping Dodd-Frank legislation. Even though the law created the new Consumer Financial Protection Bureau to write new rules, the FDIC will still enforce compliance for the banks it supervises. The new division is also meant to help promote the public’s knowledge about deposit insurance.
Pearce formerly spent over 10 years at the Center for Responsible Lending, where his positions included president and chief operating officer.