Washington, D.C. – The Consumer Financial Protection Bureau (CFPB) today announced that David Silberman will serve as Acting Deputy Director beginning next week, replacing Meredith Fuchs. Silberman currently serves as Associate Director for Research, Markets, and Regulations, a position he has held since 2011 and will retain in the interim. Silberman will serve as Acting Deputy Director while a search for a replacement is conducted.
“David has been an integral part of the Bureau’s leadership team from the very beginning, and I am pleased that he will be taking on the role of acting deputy director,” said CFPB Director Richard Cordray. “David has helped to lead the Bureau’s policy and regulatory efforts and put in place new protections that will benefit all Americans. David’s knowledge, fairness, and judgment will continue to be invaluable to the Bureau as we carry out our work improving markets for consumers. And although we will miss Meredith, we remain grateful for her contributions to the Bureau and the public we serve.”
Prior to joining the CFPB in 2010, Mr. Silberman served for 12 years as General Counsel and Executive Vice President of Kessler Financial Services, a privately-held company focused on providing advisory services in developing and marketing financial service products through distribution partnerships. Mr. Silberman’s involvement with consumer financial services began when, as Deputy General Counsel of the AFL-CIO, he created and then served as President and CEO of Union Privilege, an arm of the AFL-CIO responsible for sponsoring and overseeing the delivery of financial services to union members. Mr. Silberman began his career as a law clerk to Justice Thurgood Marshall and then as a member of the law firm Bredhoff & Kaiser. He is a graduate of Brandeis University and Harvard Law School.
Meredith Fuchs joined the Bureau in 2011 as Principal Deputy General Counsel before serving as the Bureau’s Chief of Staff, General Counsel, and acting as Deputy Director. During her five years at the Bureau, Ms. Fuchs worked on matters across the full range of the Bureau’s governance and policy development. Prior to joining the CFPB, Ms. Fuchs served as Chief Investigative Counsel of the United States House of Representatives Committee on Energy and Commerce and held positions in the non-profit and private sectors. Ms. Fuchs served as a law clerk for Judge Patricia M. Wald on the D.C. Circuit Court of Appeals and Judge Paul L. Friedman on the United States District Court for the District of Columbia. She is a graduate of the London School of Economics and Political Science, and New York University Law School.
The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives. For more information, visit consumerfinance.gov.