Report: Cordray to Quit CFPB for Ohio Governor Race – NMP
Regulation and Compliance

Report: Cordray to Quit CFPB for Ohio Governor Race

Jul 21, 2017
Richard Cordray, who rarely acknowledged criticism of his leadership skills when he was Director of the Consumer Financial Protection Bureau (CFPB), launched into an epic Twitter rant

Richard Cordray is planning to leave the Consumer Financial Protection Bureau (CFPB) and seek the 2018 Democratic nomination for governor of Ohio, according to a statement by Ohio Supreme Court Justice Bill O'Neill reported by Cleveland.com.
 
O’Neill said that an unnamed mutual friend "openly stated" that Cordray will seek statewide office in Ohio, where he served as Attorney General before coming to the CFPB. "The person I was talking to last week was saying that [Cordray] is basically trying to get as many projects done in Washington as he can before he leaves," said O'Neill, also a Democrat and the only member of his part on that state's high court. "But they left me with the clear impression that he is leaving."
 
O'Neill added that he would not seek the governor’s office if Cordray enters the race. Cordray’s CFPB term ends in July 2018, and the Democratic primary for Ohio’s statewide races is May 8, 2018. Cordray refused to comment on the story in a Wednesday press call that he held with Sen. Sherrod Brown (D-OH).
 
The CFPB's structure has been a target of President Trump for quite some time, as the President cited the constitutionality of the leadership structure of the CFPB. Back in December, Cordray, in a Wall Street Journal article, stated that he had no plans to resign once Donald Trump became President.
 
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Phil Hall
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Jul 21, 2017
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