The chief executive of a community development credit union group will leave his post to lead the Consumer Financial Protection Bureau's Office of Financial Empowerment.
Cliff Rosenthal will start his new job as an assistant director at the CFPB on May 4 after heading the National Federation of Community Development Credit Unions for nearly 30 years. He confirmed the move in a message on the federation's website.
"Like you, I am a passionate believer in the historic mission of credit unions to serve low-income people," Rosenthal wrote. "While I won't be working at the Federation, I am hopeful that my new position will enable me to continue to work closely with the credit union world."
Rosenthal's CFPB post comes with a salary between $185,000 and $247,000, according to a job listing on the agency's website. He'll lead policy and program efforts regarding financial decision making for low-to-moderate income and underserved consumers.
The federation includes more than 200 credit unions with assets totaling roughly $13 billion.
— Andrew Scoggin