November 1, 2011
Raj Date, Special Advisor to the Secretary of the Treasury for the Consumer Financial Protection Bureau, will testify Wednesday before the House Subcommittee on Financial Institutions and Consumer Credit.
During the hearing, entitled “The Consumer Financial Protection Bureau: The First 100 Days,” MarketWatch reports that Date will discuss the CFPB’s progress on reviewing the activities of major FIs, as well as increasing transparency around mortgages and student loans.
“In the first 100 days, we have been hard at work to promote a consumer financial market where consumers know what they are getting into, where firms follow the rules, and where consumers are protected and empowered,” said Raj Date in testimony submitted ahead of the hearing.
Once a director for the CFPB is confirmed, the agency will also regulate nonbank consumer-financial-product providers. Former Ohio AG Richard Cordray is President Obama’s present pick for the role. The Senate Banking Committee has already approved his nomination.
Click here to read the full MarketWatch article.