---
title: President Obama Considers Former Banker to Head Up New Consumer Bureau
date: 2011-06-09T14:36:53-04:00
author: Import Bot
canonical_url: "https://www.kelleydrye.com/viewpoints/blogs/ad-law-access/president-obama-considers-former-banker-to-head-up-new-consumer-bureau"
section: Blog Posts
---
# President Obama Considers Former Banker to Head Up New Consumer Bureau

 June 9, 2011

 

 

 

 

 

 

In a change of course, President Obama is considering [Raj Date](http://www.bloomberg.com/news/2011-06-08/obama-eyes-ex-banker-for-consumer-chief.html), rather than the current chief architect Elizabeth Warren, to head the newly-formed and soon to be empowered Consumer Financial Protection Bureau (CFPB). Mr. Date has over 10 years of experience as a banker and as a consultant to financial institutions. Since February he has been the CFPB’s Associate Director for Research, Markets & Regulations, heading up the agency’s efforts to develop a regulatory plan for products including credit cards and home mortgages. Mr. Date’s extensive industry experience could make him a more plausible candidate for the post than Ms. Warren, whose candidacy has been [adamantly opposed ](http://www.consumerfinancelawblog.com/2011/04/articles/consumer-financial-protection/president-obama-considers-candidates-for-cfpb-director-position/)by Senate Republicans.

However, many opponents are likely to remain. As discussed in a [prior post](http://www.consumerfinancelawblog.com/2011/05/articles/consumer-financial-protection/house-forwards-bills-to-limit-cfpb/), Republicans have led an effort to change the structure of the CFPB. In addition, 44 Republican Senators have [vowed to oppose](http://www.washingtonpost.com/business/economy/gop-senators-vow-to-block-cfpb-nominee/2011/05/05/AFG70f2F_story.html) the nomination of any director so long as the structure of the CFPB remains intact. Even for a nominee who has walked in the shoes of banks for years, it would likely be a contentious fight along partisan lines.

 

 **Tags:** [CFPB](https://www.kelleydrye.com/viewpoints/blogs/ad-law-access/tags/cfpb), [Consumer Financial Protection](https://www.kelleydrye.com/viewpoints/blogs/ad-law-access/tags/consumer-financial-protection), [Date](https://www.kelleydrye.com/viewpoints/blogs/ad-law-access/tags/date), [Raj](https://www.kelleydrye.com/viewpoints/blogs/ad-law-access/tags/raj), [Raj Date](https://www.kelleydrye.com/viewpoints/blogs/ad-law-access/tags/raj-date)

 

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