Document Type

Lessons Learned

JEL Codes

G01, G29


Sandra Braunstein served as the director of the Division of Consumer and Community Affairs (DCCA) at the Federal Reserve Board of Governors from 2004 to 2014. Braunstein’s leadership resulted in regulatory reforms in the mortgage market and the Truth in Lending Act and Home Ownership and Equity Protection Act. She helped assure the smooth transition of consumer protection responsibilities and appropriate staff from the Federal Reserve System to the new Consumer Financial Protection Bureau (CFPB). After 27 years of service dedicated to consumer protection, Braunstein retired in 2014. This “Lessons Learned” is based on an interview with Braunstein in October 2021.