CFPB Announces New Deputy Director, Senior Leadership Appointments

The Consumer Financial Protection Bureau (CFPB) announced the appointment of Brian Johnson as its deputy director, according to a press release circulated by the agency. Johnson first joined the agency in December 2017 as senior advisor to the director. He went on to be named principal policy director in April 2018, before being named acting deputy director in July 2018.

“I’m glad to announce officially that Brian will be the Bureau’s Deputy Director,” said CFPB Director Kathleen L. Kraninger in the announcement release. “Not only has he done a fantastic job serving in the Acting capacity, he has been an invaluable part of the team. Brian’s extensive experience on consumer and financial policy will continue to serve the Bureau in its focus on preventing consumer harm and using all of the tools Congress gave us to protect consumers.”

The Bureau also announced several new additions to its senior leadership and executive teams, including Chief Operating Officer Kate Fulton, Senior Advisor and Counselor to the Director Yasaman Sutton, Director of the Office of Civil Rights Melissa Brand and Assistant Director of the Office of Servicemember Affairs Jim Rice.

All of the new appointees come to their new positions with previous experience in both the government at-large and the CFPB, specifically. Kate Fulton joined the agency in 2013 as Senior Counsel in the Legal Division before moving to the Office of Supervision, Enforcement and Fair Lending. In 2016, she was named CFPB Deputy Chief of Staff and Senior Counsel.

Yasaman Sutton has more than 14 years’ experience in the Executive Branch of the federal government, where she provided advice and legal representation on issues that affected the Office of Management and Budget and the White House. Melissa Brand worked for nearly 10 years at the Equal Employment Opportunity Commission, and Jim Rice has over 30 years of experience serving in the United States Army.

The CFPB is of particular interest to the reverse mortgage industry due to its oversight of the financial sector. Recently, Director Kraninger outlined her intent to limit the agency’s enforcement authority, relating that enforcement is not the same as creating a lasting solution, and should only be applied carefully in circumstances that warrant it, she said in April.

The United States House of Representatives is currently contemplating a bill to introduce reforms to the way the CFPB director can implement changes to the agency.

Find the press releases announcing the new appointments at the CFPB Newsroom website.

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