No. 3 at CFPB Departs to Join NY AG’s Office

Chris D’Angelo, the Consumer Financial Protection Bureau’s Associate Director of Supervision, Enforcement, and Fair Lending, is leaving his job to become the new Deputy Attorney General for Economic Justice in the state of New York, according to published reports.

Long considered an ally of former director Richard Cordray, D’Angelo announced his departure earlier this week in an email sent to all CFPB employees. D’Angelo, who attended undergrad at Cornell University in New York and obtained his law degree from New York University, according to his LinkedIn profile, has been with the CFPB since 2011, starting as an enforcement attorney.

Before joining the CFPB, D’Angelo worked at the Treasury Department and as a field manager for Obama for America.

D’Angelo is joining an attorney general’s office that is said to be aggressively pursuing pro-consumer protections under Letitia James, who was elected to the post last November.

The Economic Justice department is one of five major divisions within the New York attorney general’s office and includes the consumer fraud and protection unit.

Under former acting director Mick Mulvaney and current director Kathleen Kraninger, the CFPB has, and is expected to continue, de-emphasizing enforcement actions, when compared to the agenda of former director Cordray. In the wake of that de-emphasizing, more states are expected to step up and fill the void by ramping up consumer protection initiatives. States like Pennsylvania and New Jersey have created their own versions of the CFPB and other states have taken similar steps.

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