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Newest Federal Regulator Adds Staff

November 15, 2011
The Consumer Financial Protection Bureau is going through a growth spurt.  It just announced 8 new hires, who will fill senior leadership spots, ranging from top lawyers to the bureau’s chief financial officer. The agency’s top spot remains vacant, although President Obama nominated Richard Cordray to lead the agency as CFPB's Enforcement Chief.  Most Republicans have vowed to block the nomination, unless the director’s powers are constrained. Among those just hired: Nicholas Rathod. CFPB's assistant director for intergovernmental and international matters. Recent White House official and past adviser to former NY Governor Eliot Spitzer. Roberto Gonzalez. deputy general counsel. Former special assistant to President Obama. Stephen Agostini. CFO. Role he previously held at another federal agency, the U.S. Office of Personnel Management. The agency was created as a mandate of the Dodd-Frank Reform Act.  It currently oversees banks and most other large lenders, but needs Congress to approve a director before it can police payday lenders, debt collectors and other lightly regulated firms.    [dealbook 11/15/11]