Patrice Ficklin was at Consumer Financial Protection Bureau (CFPB) Since the agency’s founding in 2011, it will Fannie Mae Serves as fair lending officer for government-sponsored enterprises. The news was first reported by American Banker.
Fickling has been a mainstay at the CFPB, overseeing the creation of the bureau’s Office of Fair Lending and leading the bureau for more than 13 years in both full-time director and presidential executive roles across political parties.
CFPB Director Rohit Chopra praised Ficklin’s fair lending efforts in a statement published by American Banker.
“Patrice’s leadership has shaped the CFPB’s fair lending program from its inception,” Chopra told the outlet. “I appreciate everything she has done to fight discrimination and make our marketplace fairer.”
Prior to joining the CFPB in May 2011, Ficklin served as counsel at a civil rights law firm Lehrman, Dane & Colfax PLLC It’s been two years. She served in various roles at Fannie Mae from 1997 to 2009, including serving at various times from 1997 to 2002 as Director of the Office of Corporate Judicial, Corporate Judicial and Employment Practices, and Human Resources.
She subsequently served as Fannie Mae’s deputy general counsel for fair lending from 2002 to 2007 and as deputy general counsel for customer strategy and consumer law from 2007 to 2009.
In an interview with American Banker, Fickling took stock of some of the work she has overseen during her time at the CFPB and said she hopes the momentum will continue into the future.
“I’m a private sector lawyer and I remember hearing in meetings this backlash against the idea that compliance management systems existed outside of mortgage lending in other lines of business, such as auto finance or mortgage servicing for credit cards,” she explain. “I think one of the things I’m most proud of is that today stakeholders — whether industry, consumers or advocates — are more aware of the Equal Credit Opportunity Act and the protections it promises.
“A lot of banks and non-banks are investing a lot of resources in fair lending compliance. We’re seeing fair lending professionals becoming more deeply integrated into companies’ operations and different business areas. I’m excited about that and I hope that happens able to continue to grow”
The CFPB’s anti-discrimination posture has grown significantly during Chopra’s tenure. The CFPB set a record last year with 18 cases filed with the agency, according to American Banker U.S. Department of Justice (DOJ) alleged Fair Lending violations and initiated 28 Fair Lending inspections or reviews.
