CFPB Adds New Members

The Consumer Financial Protection Bureau (CFPB) has added three new members to its ranks and promoted another from within.

Cheryl Parker Rose joins the bureau as assistant director for the office of intergovernmental affairs. She has more than two decades of experience working with federal, tribal, state and local policymakers.

Previously, Rose was deputy director of U.S. government relations for the Bill and Melinda Gates Foundation. From 2007 to 2010, she was senior advisor and director of intergovernmental affairs for Speaker Nancy Pelosi.

Rose also previously served as assistant to the president for strategic initiatives for the Service Employees International Union; counsel and director of policy for the Democratic Governors Association; director of the office of intergovernmental and interagency affairs for the U.S. Department of Education; and special counsel for the State of Florida's Washington Office under Gov. Jeb Bush and the late Gov. Lawton Chiles.

Christopher Carroll will serve as assistant director and chief economist for the bureau's office of research. He is a professor of economics at Johns Hopkins University, from which he will take a leave of absence while serving at the bureau.

Carroll is also a member of the board of directors of the National Bureau of Economic Research and co-chair of the NBER Research Group on Consumption. He has served as a senior economist for the Council of Economic Advisors on two separate occasions, and as an economist for the Board of Governors of the Federal Reserve System.

The chief focus of Carroll's research has been on understanding households' spending and financial decisions, with particular emphasis on how the differences across households fit together to influence macroeconomic outcomes. Carroll will begin his new role in January.

Kathleen (Kitty) Ryan will serve as the deputy assistant director for the office of regulations. Prior to joining the CFPB, she served as senior regulatory counsel at JPMorgan Chase & Co., where she focused on regulatory issues impacting mortgage and other consumer businesses, as well as fair lending issues.

Previously, Ryan was senior counsel in the Federal Reserve's Division of Consumer and Community Affairs, where she was responsible for drafting several major consumer protection rules. She has also held staff attorney positions at the Department of Justice and the Department of Education.

Elizabeth Ellis has been promoted to deputy assistant director for the office of financial institutions and business liaison after previously serving as the senior advisor to the CFPB's chief of staff. Prior to joining the CFPB, Ellis was a financial analyst at the Congressional Oversight Panel, where she evaluated the Troubled Asset Relief Program and reviewed the state of financial markets and the regulatory system. Previously, she was a senior associate at PricewaterhouseCoopers, where she worked in the banking and capital markets audit practice.

‘These new additions to CFPB leadership positions continue to showcase the high caliber of people who are joining our team,’ says Richard Cordray, director of the CFPB, in a release. ‘Working to make consumer markets safer and more effective is a major task, but this is an attractive mission, and today's announcement shows that we continue to bring in top-flight people who are determined to get the job done.’

The CFPB currently has five job openings listed on its website. It is unclear how many people the bureau will ultimately need in order to carry out the ambitious task of regulating consumer protection with regard to financial products and services on a national scale.

To learn more about what it is like working at the CFPB, including the code of ethics that all employees must follow, click here.


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