WASHINGTON – Eric Blankenstein, former head of the Client Monetary Safety Bureau, whose racist weblog posts have sparked controversy, has been promoted to Performing Govt Vice President of Ginnie Mae.
Blankenstein, who was deputy director of insurance policies for supervision and enforcement at CFPB, resigned from the buyer workplace in Could. The next month, the Division of Housing and City Growth engages him within the Workplace of the Legal professional Normal, the place he oversees the affairs of Ginnie Mae.
A spokesman for the HUD confirmed the information of the Blankenstein promotion on Friday. He’ll obtain a slight enhance in his new place. The information was first reported by Politico.
Blankenstein was the goal of criticism final yr after the publication of weblog articles, written underneath a pseudonym greater than a decade in the past. Within the writings, he stated that individuals who use racial slurs will not be essentially racist and have described most hate crimes as "hoaxes". After the studies, a number of colleagues from the CFPB expressed themselves, fearing that his opinions would blur his selections.
Maren Kasper, who ran Ginnie Mae within the absence of a everlasting president, left the company on October 18 to pursue a profession within the personal sector. Seth Appleton, HUD Assistant Secretary for Coverage Growth and Analysis, has been appointed Senior Govt Vice President of Ginnie Mae. In his new position, Blankenstein will report back to Appleton.