Consumer Financial Protection Bureau (CFPB) acting director Mick Mulvaney has selected Paul Watkins to lead the bureau’s new Office of Innovation, the bureau announced.
“I am delighted that Paul Watkins is bringing his deep expertise, track record of protecting consumers, and commitment to innovation to the bureau,” Mulvaney said in a release. “I am confident that, under his leadership, the Office of Innovation will make significant progress in creating an environment where companies can advance new products and services without being unduly restricted by red tape that belongs in the 20th century.”
Mulvaney created the Office of Innovation to focus on consumer-friendly innovation, which he said is a priority for the bureau. The office will focus on creating policies to facilitate innovation, engaging with entrepreneurs and regulators, and reviewing outdated or unnecessary regulations.
Before joining the bureau, Watkins worked for Arizona Office of the Attorney General, where he was in charge of the office’s fintech initiatives. He also served as chief counsel for the Civil Litigation Division, where he managed the state’s litigation in consumer fraud, antitrust, and civil rights.
Prior to joining the Arizona Office of the Attorney General, Watkins worked at Covington & Burling LLP in San Francisco and Simpson, Thacher & Bartlett LLP in Palo Alto, Calif.