CFPB Forms New Office, Hires Two for Key Roles

The Consumer Financial Protection Bureau has announced the creation of the Office of Financial Institutions and Business Liaison, and Director Richard Cordray looked to Freddie Mac and the Senate Banking Committee to fill two key positions for it.

Cordray chose Dan Smith as the first assistant director for the new office. Most recently, Smith was director for industry and state regulations at Freddie Mac, and prior to that, he represented Fortune 500 companies as vice president at Dehart and Darr Associates.

Catherine Galicia has been named assistant director for legislative affairs. She has worked in the private sector and both the Senate and House of Representatives, most recently serving as senior counsel for the Senate Committee on Banking, Housing and Urban Affairs under Chairman Tim Johnson. Galicia also assisted in drafting the consumer protection provisions of the Dodd-Frank financial reform law as a counsel to then-Senate Banking Chairman Chris Dodd.

“I am very pleased to announce these updates to our leadership team as well as the creation of the Office of Financial Institutions and Business Liaison,” Cordray said in a release. “As the Bureau moves forward with its important work, we continue to build a strong, talented team and to enhance our outreach to all stakeholders involved in improving markets for consumers and responsible businesses.”

The CFPB also announced that Lisa Konwinski will transition to deputy associate director for external affairs from the assistant director for legislative affairs role. She joined the bureau in 2011 after serving as deputy director of legislative affairs for President Obama. Hubert “Skip” Humphrey will move to the role of senior liaison of the bureau from assistant director in the Office of Older Americans.