The Consumer Financial Protection Bureau recently announced a new group of advisory board members, including one member of the servicing community.
Ohad Samet, CEO of One True Holding Company, based out of San Francisco, was recently appointed to the Consumer Advisory Board, along with five other members, including Randi Adelstein, Patricia L. Arvielo, Julie Kalkowksi, Brent A. Neiser, And Dr. Howard B. Slaughter, Jr. Their tenure on the board will last for three years. According to the CFPB’s website, the Consumer Advisory Board,
“is a crowdsourced group of experts on consumer protection, consumer financial products or services, community development, fair lending, civil rights, underserved communities, and communities that have been significantly impacted by higher priced mortgage loans. They are a source of market intelligence and expertise for us, and also advise and consult us on our work.
The board helps inform us about emerging practices or trends in the consumer finance industry, and shares analysis and recommendations. They are charged with identifying and assessing the impact of emerging products, practices, or services on consumers and other market participants.”
The servicing industry has long called for updated rules and regulations for the way servicers handle collections, and it the hope that Samet will bring these issues to the table while serving on the board. Currently, most regulations involving communication with snail-mail and landline calls.
Other appointments include, the Community Bank Advisory Council, which received two new members—Richard H. Harvey, Jr., and Max S. Yates—both of which will serve a two-year term; and the Credit Union Advisory Council received four new appointments: Kayce Bell, Jack Fallis, Louis Peralta, and David Tuyo, who also have a two-year term.
The Academic Research Council, who’s members serve a three-year term, received one new appointment, Dr. John G. Lynch, who is the Senior Associate Dean for Faculty and Research at the Leeds School of Business in Boulder, Colorado.