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Life after the CFPB

Raj Date’s post-CFPB role viewed as ethical, normal

Ethical experts defend founding of Fenway Summer

empty chair

HousingWire reported Monday that former CFPB deputy director Raj Date came under fire when lawmakers sent a letter questioning his post-CFPB role as founder of investment firm Fenway Summer.

But ethics advisors says those fears are overblown. American Banker interviewed experts familiar with the ethical standards governing former regulators:

"If he isn't representing clients before the agency or telling companies how to circumvent agency rules, we don't see a big problem here," said Michael Smallberg, an expert on "revolving door" issues at the Project for Government Oversight, a nonpartisan group focused on ethics. "We're much more concerned about government alumni who use their inside connections to weaken agency policies."

Source: American Banker
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