A senior Democratic senator on Tuesday raised concerns that a federal regulator probing allegations that Fifth Third Bancorp employees created phony accounts may be conflicted because one of its staffers previously worked at the bank.
During a Senate Banking Committee hearing on Tuesday, Democratic lawmaker Sherrod Brown grilled CFPB Director Kathy Kraninger over her decision to appoint Leonard Chanin, who was deputy general counsel at Fifth Third from March 2017-March 2019, according to his LinkedIn account, as her part-time acting deputy.
"FDIC Chair Jelena McWilliams would have known about the fake accounts. She was legal officer at Fifth Third for a couple-year period. Leonard Chanin was also her deputy at Fifth Third before he became deputy at FDIC. He would have known about the bureau's fake-account investigation of Fifth Third," said Brown, who is the top Democrat on the committee.
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