BRIEFLY: 4 job openings in MA; CFPB seeks info on ‘junk fees;’ FDIC insurance director to retire; Agency selects new CLF president

(Jan. 28, 2022) Four new positions are being filled by the MA Division of Banks, the agency said this week. The MA openings include those for consumer protection examiner I (depository institutions); depository institution supervision manager; regional field manager of risk management examinations; and information technology examiner I. For details on each of the positions, see the link below … Reduction of “junk fees” charged by banks and financial companies is the aim of an initiative announced this week by CFPB. The bureau said its research has found areas where back-end fees (such as “resort fees” and “service fees”) obscure the “true cost” of a product and undermine a competitive market. Two examples the agency provided include more than $14 billion in “punitive” late fees charged by major credit card companies in 2019 and more than $15 billion in overdraft and non-sufficient funds (NSF) fees charged that same year. The agency announced a request for public comment for input that would help shape the agency’s rulemaking and “guidance agenda,” including future enforcement priorities … Diane Ellis, director of the division of insurance and research for the FDIC will leave the agency on May 31, the agency said this week, completing a 34-year career at the agency. She has served as director since 2013, when she was appointed to oversee the economic, banking, and policy research program and management of the agency’s Deposit Insurance Fund (DIF), the FDIC said … Effective Monday, Anthony Cappetta is the new president of the NCUA Central Liquidity Fund (CLF), the lender for credit unions that have unusual or unexpected liquidity shortfalls. Cappetta, a 30-year U.S. Army veteran, was named CLF vice president in 2019. He joined the agency in 2014 as director of the NCUA Guaranteed Notes division in the agency’s Office of Examination and Insurance. Before joining NCUA, the agency said, he served in leadership roles at several hedge funds and banks.


NASCUS Career/Job Postings webpage

Consumer Financial Protection Bureau Launches Initiative to Save Americans Billions in Junk Fees

FDIC Announces Retirement of Diane Ellis, Director of the Division of Insurance and Research

Anthony Cappetta Appointed President of the Central Liquidity Facility