Reuters: White House Considers Raskin and Granholm to Lead CFPB

A report from Reuters today states that President Obama has not yet selected the head of a new consumer financial protection agency, according to the White House.

A source told Reuters earlier this week that two candidates are under consideration: Federal Reserve Governor Sarah Raskin and former Michigan Governor Jennifer Granholm.

Following the Reuters story, Granholm posted the following comment, according to The Detroit News: “This story says I’m under consideration for the CFPB job. I have declined to be considered for this post. I’m happy in my new roles at Pew, Berkeley and Dow.” Granholm was recently elected to Dow Chemical’s board of directors, is teaching at the University of California, Berkeley, and is writing a book with her husband, said the Detroit News story. “And, by the way, while I don’t know Raskin, and she may be great, I think nominating Elizabeth Warren is a fight worth waging,” Granholm added.

Raskin, who currently sits on the Federal Reserve Board, was formerly the Commissioner of Financial Regulation for the State of Maryland. She also served as managing director at the Promontory Financial Group and on the Banking Counsel for the U.S. Senate Committee on Banking, Housing, and Urban Affairs.

The Consumer Financial Protection Bureau, currently led by Elizabeth Warren, assistant to President Obama, is scheduled to take effect on July 21.

Reuters reported that its source did not mention other candidates for the CFPB director position.

See the Reuters Report.

Written by Elizabeth Ecker


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