Rick Hackett, partner at law firm Pierce Atwood’s Portland, Maine location, has been named deputy assistant director for installment lending markets at the Consumer Financial Protection Bureau (CFPB), effective May 9.
Hackett’s team will be responsible for articulating a fact-based perspective on current and potential future market dynamics and will also seek to identify and support the new bureau in addressing unfair, deceptive and abusive acts or practices, according to a statement. The markets they will assess include auto loans and leases, marine recreational vehicle loans and leases, federal student loans, pay day loans and private student loans.
"I am going to miss all of my colleagues at Pierce Atwood, but after 31 years as a banking lawyer, I could not pass up an opportunity to be in on the ground floor of an organization that will fundamentally revise and restructure the way consumer financial protection works," said Hackett.
