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James Freis Stepping Down as Director of U.S. Treasury’s FinCEN

James Freis, director of the U.S.’s Financial Crimes Enforcement Network, is stepping down after more than five years in the job.

David Cohen, the Treasury’s undersecretary for terrorism and financial intelligence, said in a letter to staff obtained by Bloomberg News that he asked Freis to stay on until a successor is named.

FinCEN spokesman Steve Hudak referred questions to the Treasury. John Sullivan, a Treasury spokesman, declined to comment.

FinCEN, which maintains financial transactions data and analyzes information for law-enforcement purposes, is a bureau of the Treasury. FinCEN’s director is appointed by the Treasury secretary and reports to the undersecretary for terrorism and financial intelligence.

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