Two senior CFPB law enforcement officials leave agency

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Two officials from the Consumer Financial Protection Bureau are leaving the agency, clearing the way for President Biden’s candidate, who will lead the bureau, to assemble his team.

Brian Schneider, CFPB’s Deputy Director of Oversight, Enforcement and Fair Lending, leaves the bureau on July 1, a CFPB spokeswoman confirmed. No successor has been named, and Schneider did not say what his next job will be.

The CFPB is also losing one of the longest serving leaders. Peggy Twihig, assistant director of oversight policy and strategy who helped set up the agency prior to its creation in 2011, is retiring.

Schneider was hired in 2019 by former CFPB director Katie Kreninger and led cheer up executive division last year. Prior to joining CFPB, Schneider headed the Illinois Department of Financial and Professional Regulation. Prior to becoming a regulator, he worked for 15 years at the Walgreens pharmacy retail chain.

Last year, Schneider tried to ensure that the CFPB’s oversight team was the final arbiter in investigative and enforcement decisions. But the bureau staff opposed the change, which led to further turmoil in management.

While Kreininger viewed the CFPB's oversight work as the agency's backbone, many expect Rohit Chopra, the Biden administration's nominee to head the bureau, to follow in the footsteps of former CFPB director Richard Cordray by making coercion his primary tool.

While Kreininger viewed the CFPB’s oversight work as the agency’s backbone, many expect Rohit Chopra, the Biden administration’s candidate to head the bureau, to follow in the footsteps of former CFPB director Richard Cordray by making coercion his primary tool.

Bloomberg News

The proposed shake-up would strip then CFPB Compliance Director Tom Ward, a former deputy assistant attorney general in the Justice Department’s civil administration division whom Kroeninger hired last year. Ward left the bureau in May and is now a partner with Sidley Austin.

While Kreininger viewed the CFPB’s oversight work as the agency’s backbone, many expect Rohit Chopra, the Biden administration’s candidate to head the bureau, to follow in the footsteps of former CFPB director Richard Cordray by making coercion his primary tool. The agency, led by Acting Director Dave Uedgio, has already appointed Kara Petersen as Acting Head of Law Enforcement Practice and has begun recruiting law enforcement attorneys.

Tuuhig is one of the longest-serving employees in the bureau. She sent an email to some of the employees saying that she was retiring. CFPB Confirms Tuyhig Retires

A former bailiff, Tuhig was responsible for implementing the first federal oversight program for nonbanks, which included overseeing credit bureaus, mortgage lenders, mortgage lenders, and payday lenders.

She previously served as director of the Treasury Department of the Treasury in the Obama administration, where she worked on the proposal to create the CFPB following the Dodd-Frank Act. Prior to joining the Treasury, Tuhig worked for 17 years with the FTC, where she focused on enforcement and policy in consumer financial services. She was previously a lawyer at Arnold & Porter.

“I appreciate Peggy and Brian’s dedicated service to CFPB, especially during my time as Acting Director,” Uejio said in an email statement from an official. “I wish them both the very best.”



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