CFPB Announces New Acting Deputy Director

David Silberman

In July 2015, Steven L. Antonakes, the Consumer Financial Protection Bureau (CFPB)'s second-in-command official, announced in a memo to employees that he would step down from his position with the Bureau. To replace Antonakes, the CFPB named Meredith Fuchs to serve as Acting Deputy Director.

Now, six months later, the CFPB has made yet another change to its Acting Deputy Director.

The CFPB recently announced that David Silberman will serve as Acting Deputy Director, replacing Meredith Fuchs. The new change will go into effect starting next week.  He will serve as Acting Deputy Director until the CFPB names a new replacement.

At the present time, Silberman serves as Associate Director for Research, Markets, and Regulations, where he has worked since 2011 and will retain in the interim, the CFPB announced.

Silberman served for 12 years as General Counsel and EVP of Kessler Financial Services, a privately-held company focused on providing advisory services in developing and marketing financial service products through distribution partnerships.

“David has been an integral part of the Bureau’s leadership team from the very beginning, and I am pleased that he will be taking on the role of acting deputy director,” said CFPB Director Richard Cordray. “David has helped to lead the Bureau’s policy and regulatory efforts and put in place new protections that will benefit all Americans. David’s knowledge, fairness, and judgment will continue to be invaluable to the Bureau as we carry out our work improving markets for consumers. And although we will miss Meredith, we remain grateful for her contributions to the Bureau and the public we serve.”