Each day this week, we will feature information about an important milestone in the establishment of the new consumer bureau. Today’s post is about our new HR system. Read more of this series.
The Dodd-Frank Act created the CFPB as an independent bureau within the Federal Reserve System. Many steps must be taken before the CFPB is fully operational, so Congress authorized the Treasury Department to conduct that preliminary work during this interim period. The CFPB implementation team took an important step in setting up the CFPB this week by launching its interim human resources system.
The CFPB continues to rely on Treasury to provide administrative support and to manage the implementation effort. But we have taken an important step. The launch of the interim HR system means that, for the first time, the CFPB will have employees of its own. The HR system enables the CFPB to create positions, recruit and hire personnel, and institute policies and practices designed to engage and retain staff. It also provides the infrastructure for performance management, training, recording time and attendance, and other important tasks. This system is a critical step as the consumer bureau works to build infrastructure and transfer personnel from other government agencies.
The most visible result of the new system is that the CFPB team will begin to use different job title conventions. For example, the leaders of each principal function, such as the General Counsel and the head of the Supervision and Enforcement team, will be Associate Directors reporting directly to the eventual Director of the consumer bureau. Assistant Directors will head up the working teams, such as Credit Card Markets or Fair Lending. This naming convention will provide greater clarity about the structure of the organization as we move forward.
Below is a list of CFPB leaders who are currently on the team or will be joining in the weeks ahead:
- Steve Antonakes, Assistant Director for Large Bank Supervision
- Ethan Bernstein, Deputy Assistant Director for Mortgage and Home Equity Markets
- Marla Blow, Deputy Assistant Director for Card Markets
- Leonard Chanin, Assistant Director for Regulations
- Kelly Cochran, Deputy Assistant Director for Regulations
- Richard Cordray, Assistant Director for Enforcement
- Raj Date, Associate Director for Research, Markets & Regulation
- Marilyn Dickman, Deputy Assistant Director for Human Capital
- David Forrest, Assistant Director for Consumer Engagement and Acting CIO
- Meredith Fuchs, Principal Deputy General Counsel
- Roberto Gonzalez, Deputy General Counsel
- Michael Gordon, Deputy General Counsel
- David Gragan, Assistant Director for Procurement
- Len Kennedy, General Counsel
- Zixta Martinez, Assistant Director for Community Affairs
- Patricia McCoy, Assistant Director for Mortgage and Home Equity Markets
- Holly Petraeus, Assistant Director for Servicemember Affairs
- Victor Prince, Deputy Chief Operating Officer
- David Silberman, Assistant Director for Card Markets
- Dennis Slagter, Assistant Director for Human Capital
- Dan Sokolov, Deputy Associate Director for Research, Markets and Regulation
- Corey Stone, Assistant Director for Credit Information Markets
- Peggy Twohig, Assistant Director for Nonbank Supervision
- Elizabeth Vale, Assistant Director for Community Banks and Credit Unions