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Cordray to resign from CFPB

Cordray to resign from CFPB

The Associated Press15 Nov 2017-Richard Cordray, the first director of the Consumer Financial Protection Bureau, said Wednesday he will leave the position by the end of the month.

Corday was appointed by President Barack Obama. His early resignation will give President Donald Trump a chance to appoint his own director of the powerful agency established in the wake of the financial crisis. A Trump appointee could roll back the protections Cordray and his staff put into place in the agency's first years.

Cordray’s resignation is not unexpected. The Ohio native had been widely expected to make a run for governor of his home state in 2018, and he could not hold his position as director of the CFPB and run at the same time.

 

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