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.

About the author

Phil Hall

Link copied

Published

Jul 21, 2017

Non-QM

BFF Launches Wingman Portal To Streamline Broker Workflows

New platform brings pricing, submissions, document handling, and loan tracking into one system as the wholesale lender expands its Non-QM business

Brokers First Funding has launched Wingman, a broker portal that combines loan pricing, submissions, document handling, and pipeline tracking in one system.The Costa Mesa, California-based wholesale lender said the platform was built with feedback from its broker partners an...

People On The Move

Former Chase Executive Kevin Christopher Returns To Key Mortgage

The 34-year industry veteran will lead mortgage production after overseeing retail sales across 17 states for JPMorgan Chase

Key Mortgage has hired former JPMorgan Chase Managing Director Kevin Christopher as senior vice president of mortgage production, bringing a familiar executive back to the Baird & Warner family of companies.Christopher has 34 years of financial services experience, accor...

Nov

Pasadena, CA

More from

Regulation and Compliance

ACES Targets Loans Traditional QC Samples May Miss

New population-testing technology applies lender-defined rules across selected origination and servicing records, then directs flagged files to human reviewers

Tech

Sep 21, 2026

The Risk Your Credit Score Can't See

Place-based market risk can produce dramatically different default outcomes among borrowers with nearly identical credit profiles

Opinion

Sep 17, 2026

Trump Taps FHA Insider Matt Jones To Lead Agency

The former MBA policy executive would oversee FHA underwriting, servicing, and credit-score changes that directly affect lenders and borrowers

Regulation and Compliance

Sep 16, 2026

Regulators Propose Risk-Based Vendor Oversight For Community Lenders

Plan could ease reviews of lower-risk mortgage technology while preserving lender responsibility for vendor failures

Regulation and Compliance

Sep 14, 2026

FHA Sets Jan. 1 Start For FICO 10T And VantageScore 4.0

Lenders will gain competing modern scoring options, but borrowers may not see both offered everywhere

FHA

Sep 11, 2026

FHFA Studies Credit-Report Changes To Cut Mortgage Costs

Pulte’s comments could signal either fewer bureau reports or a portable report borrowers could share among lenders, but FHFA has not clarified which approach it is studying

Regulation and Compliance

Sep 10, 2026

Popular