Consumer Financial Protection Bureau director Richard Cordray on Thursday appointed Raj Date as the agency's first deputy director.
Until Wednesday, Date had served as the agency's de facto leader following the departure of Elizabeth Warren this summer to run for Senate in Massachusetts. He was also head of the agency's research, markets and regulations division.
The promotion makes Date the No. 2 at the CFPB and, under statute, would make him the leader of the bureau after 2013 if Cordray or another permanent CFPB director is not confirmed by the Senate before then. Cordray was recess appointed by President Obama on Wednesday and his term will expire at the end of next year unless the Senate acts.
"Raj Date is one of the most extraordinary colleagues I have ever worked with," Cordray said in a press release. "His experience and knowledge of the financial services industry is invaluable to the CFPB. And, for the past six months, his thoughtful leadership has set a strong tone that will forever guide the CFPB's approach."
Cordray also announced that he has appointed Kent Markus as head of the CFPB's enforcement division, the job Cordray vacated. Markus had been the assistant director of the office of enforcement, and previously served as chief legal counsel to the Ohio Governor.
