Rajeev V. Date is an American businessman, attorney, and venture
capital investor who served as Deputy Director and Special Advisor for
the United States Consumer Financial Protection Bureau. He had
previously served in a variety of leadership positions at the Bureau,
including several months as the startup agency's leader, as the
Special Advisor to the United States Secretary of the Treasury. He is
credited with guiding the Consumer Financial Protection Bureau's early
strategic, operational, and policy initiatives.Date graduated from the
UC Berkeley College of Engineering in 1992, with Highest Honors as the
Department Citation recipient for Industrial Engineering and
Operations Research; he also earned a Juris Doctor, magna cum laude,
from Harvard Law School in 1995.Prior to joining the Consumer
Financial Protection Bureau, he worked as a senior vice president at
Capital One and as a managing director at Deutsche Bank. He had begun
his business career at the global consultancy McKinsey & Company,
where he worked in the Financial Institutions Group. Date then felt an
interest in getting involved in public policy: “The only things I
really knew anything about -- bank balance sheets, consumer credit,
capital markets -- all of that was relevant from a public policy point
of view in the spring of 2009†he said in an interview with
Finance-Re-Wired. He left the banking industry in 2009 to start the
Cambridge Winter Center, a nonprofit think tank devoted to promoting
the regulation of financial firms.Date joined the CFPB in February
2011 as associate director of research, markets and regulations, where
he oversaw work on consumer finance sectors including credit cards,
auto loans, mortgages, checking and savings accounts, payday lending,
and credit reporting. Date expected putting together the CFPB to be a
2-3 month endeavor, but was asked by Warren and Treasury to lead
“the guts of the policy apparatus.†He succeeded Elizabeth Warren
as special advisor when she stepped down on August 1, 2011 to run for
Senate. His appointment came with controversy, as it was reported that
prior to joining, Date had an active role in the talks over the
Doddâ€"Frank Wall Street Reform and Consumer Protection Act while
being on the Board of Directors of Prosper Marketplace, which sought
to make changes to the legislation. Date was never found to be in
violation of any laws and he had always recused himself from
rule-making regarding peer-to-peer lending. Date resigned from the
CFPB in 2012, and was succeeded by Richard Cordray, the first Director
of the agency. Date later described early CFPB as a start-up and a
post-merger environment. He described the goals of the agency as
twofold: “To create tangible value for people who interact with the
financial services system -- in other words, to really kind of help
markets create value for people. It seems so pedestrian now, but
coming out of the heels of the crisis it was sort of novel.†But
also to “build a great institution: something that was going to have
a culture and norms and talent, and a reputation for trying to do the
right thing, and to try to do it in the right way.â€
capital investor who served as Deputy Director and Special Advisor for
the United States Consumer Financial Protection Bureau. He had
previously served in a variety of leadership positions at the Bureau,
including several months as the startup agency's leader, as the
Special Advisor to the United States Secretary of the Treasury. He is
credited with guiding the Consumer Financial Protection Bureau's early
strategic, operational, and policy initiatives.Date graduated from the
UC Berkeley College of Engineering in 1992, with Highest Honors as the
Department Citation recipient for Industrial Engineering and
Operations Research; he also earned a Juris Doctor, magna cum laude,
from Harvard Law School in 1995.Prior to joining the Consumer
Financial Protection Bureau, he worked as a senior vice president at
Capital One and as a managing director at Deutsche Bank. He had begun
his business career at the global consultancy McKinsey & Company,
where he worked in the Financial Institutions Group. Date then felt an
interest in getting involved in public policy: “The only things I
really knew anything about -- bank balance sheets, consumer credit,
capital markets -- all of that was relevant from a public policy point
of view in the spring of 2009†he said in an interview with
Finance-Re-Wired. He left the banking industry in 2009 to start the
Cambridge Winter Center, a nonprofit think tank devoted to promoting
the regulation of financial firms.Date joined the CFPB in February
2011 as associate director of research, markets and regulations, where
he oversaw work on consumer finance sectors including credit cards,
auto loans, mortgages, checking and savings accounts, payday lending,
and credit reporting. Date expected putting together the CFPB to be a
2-3 month endeavor, but was asked by Warren and Treasury to lead
“the guts of the policy apparatus.†He succeeded Elizabeth Warren
as special advisor when she stepped down on August 1, 2011 to run for
Senate. His appointment came with controversy, as it was reported that
prior to joining, Date had an active role in the talks over the
Doddâ€"Frank Wall Street Reform and Consumer Protection Act while
being on the Board of Directors of Prosper Marketplace, which sought
to make changes to the legislation. Date was never found to be in
violation of any laws and he had always recused himself from
rule-making regarding peer-to-peer lending. Date resigned from the
CFPB in 2012, and was succeeded by Richard Cordray, the first Director
of the agency. Date later described early CFPB as a start-up and a
post-merger environment. He described the goals of the agency as
twofold: “To create tangible value for people who interact with the
financial services system -- in other words, to really kind of help
markets create value for people. It seems so pedestrian now, but
coming out of the heels of the crisis it was sort of novel.†But
also to “build a great institution: something that was going to have
a culture and norms and talent, and a reputation for trying to do the
right thing, and to try to do it in the right way.â€
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