Senior technology leadership is now in place for the Consumer Financial Protection Bureau (CFPB) implementation team, according to an ""announcement from the Treasury Department"":http://www.treasury.gov/press-center/press-releases/Pages/tg1003.aspx. Tim Duncan will lead technology operations, and David Forrest will lead the online engagement team.
Currently housed at Treasury, the CFPB will have statutory oversight of mortgage lending and the power to set new rules for home loans and other consumer-facing credit products.
[IMAGE] [COLUMN_BREAK]""In building the new consumer bureau, we have an opportunity to design an agency that uses 21st century technology to communicate with and on behalf of American families,"" said Elizabeth Warren, assistant to the president and special advisor to the secretary of the Treasury on the CFPB. ""Tim and David will be instrumental in infusing the CFPB with the tools it will need to empower families and to become an effective cop on the beat patrolling consumer credit markets.""
Duncan has more than 25 years' experience managing technology-driven companies focused on information in the financial services industry. Most recently, he was president and founder of Story Street Investment Management, a firm that develops global investment portfolios of traditional investments and provides evaluation and assessment of various alternative investments. In addition to serving as a board member for several non-profit organizations and on a Massachusetts statewide commission as an appointee of Governor Mitt Romney, Duncan founded American Business Leaders for Financial Reform.
Forrest spent the last 16 years working at the Motley Fool, a multimedia financial services company that promotes investor education. He also has experience managing online communities. Most recently, Forrest managed the Motley Fool's international subsidiary in London.