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FRB Appoints New Director

A significant change has taken place at the Federal Reserve Board. Ever since its inception, the Division of Consumer and Community Affairs has been directed by an attorney with extensive experience in writing and interpreting regulations. In addition, the Division Director was expected to have at least some minimal experience with on-site examinations. All that has changed with the appointment of Sandra Braunstein as the new Director of DCCA.

Braunstein brings neither legal nor examination experience to the job. Instead, Braunstein's background is in community affairs. She has headed the Division's policies and programs on community and economic development. Her appointment indicates a possible change of emphasis for the Board. Certainly we can expect continued attention on predatory lending and unfair or deceptive trade practices.

Copyright © 2004 Compliance Action. Originally appeared in Compliance Action, Vol. 9, No. 3, 4/04

First published on 04/01/2004

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