This Year's Departures from the CFPB
October 31, 2013 12:04 PM
The Consumer Financial Protection Bureau got a confirmed director for the first time this year, when the Senate finally approved the longstanding nomination of Richard Cordray for the post. But the agency has also sustained the departures of high-ranking employees to law firms, consulting shops, banks and other destinations. Here's a look at some of the CFPB employees who have left in 2013, and where they have landed.
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Image: Rick Reinhard
Raj Date
The agency's highest profile departure this year, Raj Date was the bureau's second-in-command before stepping down in late January. In April, the former Capital One executive announced the formation of a bank advisory firm called Fenway Summer. Other CFPB alumni have joined him there, including the agency's former chief of staff, Garry Reeder; former CFPB senior counsel Mitch Hochberg; and Chris Haspel, who was the agency's senior expert in residential mortgage servicing and securitization.
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Image: Bloomberg News
Sendhil Mullainathan
Sendhil Mullainathan, a leading behavioral economist, headed up the CFPB's Office of Research from 2011 until late this summer. He returned to his former job as an economics professor at Harvard. Mullainathan is the co-author of a new book, "Scarcity," and is also a scientific advisor for the nonprofit advisory firm ideas42.
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Benjamin Olson
Benjamin "Ben" Olson was the CFPB's deputy assistant director of regulations prior to his departure in May. A former lawyer at the Federal Reserve Board, Olson moved to the financial services law firm BuckleySandler, where he advises mortgage lenders, credit card issuers and other financial service companies on regulations, investigations and enforcement actions.
Barton Shapiro
Barton "Bart" Shapiro was a longtime official at the Department of Housing and Urban Development before joining the CFPB as a senior advisor. In February he joined the law firm Offit Kurman and its offshoot C3 Compliance Consultants Inc.
Leslie Parrish
Leslie Parrish served as the CFPB's program manager for payday and small-dollar loans. She returned to the Center for Responsible Lending, where she worked prior to her job at the CFPB, as the nonprofit organization's deputy director for research.
Neil Peretz
Neil Peretz worked as a lawyer in the CFPB's enforcement office before joining BillFloat, a start-up small-dollar consumer lender, in August. A former Justice Department trial attorney, he currently serves as BillFloat's general counsel.
John Tonetti
John Tonetti was a veteran of the debt collection industry before joining the CFPB, where he served as the agency's program manager for debt collection. Tonetti joined JPMorgan Chase in September, shortly before the bank reached an agreement with federal regulators on a series of debt-collection reforms. Chase has said that Tonetti is working in risk management.
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Image: Bloomberg News
