People on the Move: Trent Sorbe, CFPB
Veteran financial services professional Trent Sorbe has accepted a two-year appointment to the Consumer Financial Protection Bureau (CFPB)’s Community Bank Advisory Council (CBAC). Sorbe has more than 20 years of experience in the financial services sector and currently serves as president of Central Payments, the payments division of Central Bank of Kansas City. The CBAC aims to provide interactive dialogue and exchange of ideas and experiences between community bankers and CFPB staff, with CBAC members proving general advice on the bureau’s regulation of consumer financial products and services. Sorbe will join other members from across the country and provide information, analysis, and recommendations to better inform the CFPB’s policy development, rulemaking, and engagement functions. Brad Fauss, president and CEO of the Network Branded Prepaid Card Association, recommended Sorbe for the position.
Sorbe’s appointment to the advisory council is his second engagement with the CFPB. In October 2015, he was a member of the bureau’s small business advisory panel, testifying on the impact of an agency proposal to prohibit use of class action litigation waivers in arbitration agreements used for consumer financial products, such as credit cards and prepaid cards.