The Consumer Financial Protection Bureau’s rule-writing department now needs a qualified leader as it finalizes a deluge of new regulations by January 2013. Leonard Chanin, assistant director of the Bureau’s Office of Regulations, has left for private practice.
“During his time at the Bureau, Leonard built an effective rule-writing team that has developed proposals to implement key consumer financial protections that will benefit all Americans,” said CFPB Director Richard Cordray. While waiting for a new leader, the Office of Regulation’s 40 attorneys will continue with the 26 new rules forecasted in the Bureau’s semiannual agenda.
Prior to joining the CFPB, Chanin supervised consumer regulation at the Federal Reserve Board for 14 years. He will now use his expertise in private practice as a partner in Morrison & Foerster LLP’s Washington, D.C. office. Chanin is the second prominent CFPB official to depart for private practice this summer.