CFPB appoints New American Funding co-founder to Consumer Advisory Board

Industry veteran has developed programs that address housing challenges facing Latino and African-American communities

CFPB appoints New American Funding co-founder to Consumer Advisory Board

The Consumer Financial Protection Bureau (CFPB) has appointed Patty Arvielo, a co-founder of New American Funding, to its Consumer Advisory Board.

Those who sit on the board are consumer experts outside of government. “The Bureau’s advisory board and councils play an important role making sure that we are hearing from a wide array of perspectives in the consumer financial marketplace,” said CFPB Director Richard Cordray.

“I consider it a tremendous honor to serve as a representative on the Consumer Advisory Board. I look forward to providing my industry insight and expertise to the CFPB,” said Arvielo. “I’m passionate about working together to develop solutions that impact our industry and keep our consumers safeguarded.”

Arvielo brings 35 years of mortgage experience to the board. This includes managing operations and sales for New American Funding’s headquarters, over 130 branches, and over 2,300 employees.

According to New American Funding, she has developed various consumer-based initiatives including Latino Focus Committee and New American Dream – programs designed to address the housing challenges facing Latino and African-American communities.

She also serves as a national housing advocate through committees for the Mortgage Bankers Association and the Corporate Board of Governors for the National Association of Hispanic Real Estate Professionals.

“The expertise and institutional-size diversity among advisory group members reflects the range of issues under the Bureau’s jurisdiction as well as the racial, ethnic and geographic diversity of U.S. consumers,” said the CFPB.