The Consumer Financial Protection Bureau announced today that Kristen Donoghue would be appointed as its new Assistant Director of Enforcement, effective next Friday, November 17.

As we explained in an earlier post, Anthony Alexis, the former head of enforcement, announced his intention to step down from his position upon appointment of his successor.  Donoghue is the fourth head of the enforcement office since the Bureau’s inception in 2011.

This appointment is unlikely to signify any significant changes in the CFPB’s enforcement direction.  First, Donoghue has contributed significantly to the Bureau’s current enforcement policies and priorities.  She has served as a CFPB enforcement attorney since the establishment of the Bureau in 2011, and most recently served as the Bureau’s Principal Deputy Enforcement Director.  Second, the Assistant Director of Enforcement does not have the last word on enforcement policy at the CFPB; the Assistant Director reports up to the Associate Director for Supervision, Enforcement & Lending, a role that will continue to be held by long-time staffer (and former Chief of Staff to Director Cordray) Christopher D’Angelo.

Prior to joining the CFPB in 2011, Donoghue spent more than ten years as an insurance, securities and contract litigator at a law firm in Washington D.C.

Donoghue’s appointment is not subject to confirmation or other external approval, and so should take effect as announced.

Tags: CFPB
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Photo of Nikhil Gore Nikhil Gore

A member of the international arbitration and financial institutions practices, Nikhil V. Gore represents sovereign states and U.S. and global firms in international treaty-based and commercial disputes. He also regularly represents U.S. financial institutions, and the U.S. branches and affiliates of foreign financial…

A member of the international arbitration and financial institutions practices, Nikhil V. Gore represents sovereign states and U.S. and global firms in international treaty-based and commercial disputes. He also regularly represents U.S. financial institutions, and the U.S. branches and affiliates of foreign financial institutions, in investigations and inquiries involving the Federal Reserve, OCC, FDIC, CFPB, and state banking regulators.

Mr. Gore has served as counsel in investment and commercial arbitrations spanning several industries and a variety of regions, including Asia, Eastern Europe, North America, and Southern Africa. Additionally, he has expertise in the law of the sea, and was part of the Covington team that secured an order from the International Tribunal for the Law of the Sea, which required Russia to release three Ukrainian naval vessels and twenty-four servicemen detained in the Black Sea in 2018.

In his financial institutions practice, Mr. Gore has experience with enforcement actions and investigations relating to the Bank Secrecy Act, the federal criminal money laundering statutes, the full range of safety and soundness issues (including, in particular, supervisory reviews of bank control functions), and fair lending and consumer compliance. Mr. Gore is a regular contributor to the firm’s financial services blog.

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