At least one state is responding to changes at the federal consumer financial protection agency by naming a new director to its own state-level agency designed to “protect consumers from financial fraudsters.”
New Jersey Attorney General Gurbir Grewal said Tuesday in a statement that the governor will nominate a new director for its consumer affairs division in an effort to create a “state-level” Consumer Financial Protection Bureau (CFPB). The nomination, according to Grewal, is part of the state’s efforts to respond to the “pullback” of the CFPB under President Donald Trump.
Grewal said Gov. Phil Murphy (D) intends to nominate Paul Rodriguez as director of the state’s Division of Consumer Affairs.
“As the federal government abandons its responsibility to protect consumers from financial fraudsters, it is more important than ever that New Jersey picks up the mantle to protect its own residents,” Grewal said. “Paul has the energy and ability necessary to lead the division as we work to protect New Jerseyans from fraud and professional misconduct in the marketplace.”
Rodriguez (a New Jersey native) is now acting counsel to New York City Mayor Bill de Blasio; he is expected to assume his new role June 1.