Raj Date, the former deputy director of the Consumer Financial Protection Bureau, has joined the board of Customers Bancorp in West Reading, Pa.
The $20.3 billion-asset company said in a press release that Date, a managing partner of investment and advisory firm Fenway Summer, will serve on its board compliance and risk committees.
Date is also the co-founder of FS Vector, an advisory firm that counsels fintechs on regulatory strategy, compliance and public policy.
Date “is a tremendous and multi-talented addition to our Board of Directors,” Jay Sidhu, Customers’ chairman and CEO, said in the release. “He understands the nature of our business model and how it is changing and the dynamic public policy context in which we operate.”
The appointment makes sense, given Customers’ big push into fintech and digital assets. Those are areas that are drawing significant scrutiny from regulators such as the CFPB.