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Volume 25 - Number 16

August 4, 2014

The Revolving Door/Legislative Update/Comments Due

Another CFPB Official Heads for the Private Sector. CFPB Enforcement Attorney Manuel Alvarez has been hired away by Affirm, a young financial services company based in San Francisco, to be its first chief compliance officer and general counsel. In his new role at Affirm, Alvarez will oversee and manage the companyís regulatory compliance program and related actives to prevent illegal, unfair or deceptive conduct. He will also take charge of the firmís working relationships with regulators and Affirmís service providers. ďConsumers often donít understand the fees or interest they pay on a revolving account. That has to change,Ē said Alvarez. ďAffirmís commitment to delivering honest and transparent financial products totally aligns with my long-standing commitment to consumer protection.Ē Alvarez was ...

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