Leonard N, Chanin is a real mofo. That is, he works for Morrison and Foerster, a law firm representing some real mofos. But we’re calling him a mofo because his new employer’s web handle is http://www.mofo.com, right [wink wink]?.
From his mofo webpage:
Leonard Chanin is Of Counsel in the Financial Services group at Morrison & Foerster LLP. A recognized expert in the field of consumer financial protection with extensive experience in regulation and supervision of the myriad statutes affecting retail banking, Mr. Chanin counsels financial institutions on consumer financial services law issues. Mr. Chanin regularly advises clients on issues relating to the Home Mortgage Disclosure Act, Truth in Lending Act, Electronic Fund Transfer Act, Fair Credit Reporting Act, Truth in Savings Act and Equal Credit Opportunity Act.
Before rejoining Morrison & Foerster, Mr. Chanin served as the Assistant Director of the Office of Regulations of the Consumer Financial Protection Bureau. There, he headed the agency’s rulemaking team by supervising nearly 40 lawyers responsible for promulgating rules and regulations implementing consumer financial protection legislation. He also provided legal opinions to Bureau supervisory and enforcement offices on federal consumer financial protection laws.
It was in his previous post with Uncle Sam that Chanin managed to ignore alarm bells about hinky loans and allowed the American financial ship of state to sail onward into iceberg that was the start of Great Recession in 2008.
And that’s what got Sen. Warren really steamed up when Chanin appeared before the Senate Banking Committee for a long-delayed hearing called by Republicans to discuss financial regulations.
By the time Chanin left his hot seat squirmathon, he’d been subjected to a though Elizabethan grilling, and it was wondrous to behold.
From Senator Elizabeth Warren:
Senator Elizabeth Warren at Banking Hearing on Consumer Finance Regulations
Senator Elizabeth Warren’s Q&A at an April 5, 2016 Senate Banking Committee hearing titled, “Assessing the Effects of Consumer Finance Regulations.”