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

Courts

Kortas Secures Sole Ownership Of NEXA Lending

The settlement ends a multiyear legal battle between the co-founders of NEXA Lending

NEXA Lending CEO Mike Kortas has emerged as the sole owner of the company following a settlement with co-founder and former business partner Mat Grella, ending years of litigation over their respective ownership interests and the size of Grella's buyout.The settlement ends a...

Regulation and Compliance

AD Mortgage Warns Condo Eligibility Changes Could Restrict Conventional Financing

Wholesale lender cites internal loan data to urge regulators to monitor whether new condominium eligibility standards reduce access to conventional financing

Four months after new Enterprise condominium eligibility standards raised concerns among lenders across the industry, AD Mortgage is taking those concerns directly to federal regulators.The wholesale lender announced the launch of a Public Policy Initiative last week, using ...

Oct

Denver, CO

More from

Regulation and Compliance

AD Mortgage Warns Condo Eligibility Changes Could Restrict Conventional Financing

Wholesale lender cites internal loan data to urge regulators to monitor whether new condominium eligibility standards reduce access to conventional financing

Regulation and Compliance

Jul 20, 2026

CHLA Says Direct Payments Are Key To Small FHA Loans

The lender group says mortgages below $100,000 routinely lose money, while LO compensation rules could prevent federal incentives from reaching originators

Regulation and Compliance

Jul 17, 2026

Solidifi Clears FHA Certification For UAD 3.6 Integration

The appraisal management company says it is the first to complete certification for FHA’s modernized EAD platform, giving lender clients an early path toward implementation

Regulation and Compliance

Jul 16, 2026

Vought To Face Congress Over CFPB Overhaul, Enforcement Pullback

Vought’s testimony also comes as a new poll suggests the CFPB retains broad support across party lines

Regulation and Compliance

Jul 15, 2026

Illinois Changes Property Tax Foreclosure Process To Return Surplus Equity

Borrowers can save remaining home equity after delinquent property taxes and fees are paid

Regulation and Compliance

Jul 14, 2026

CFPB Weighs Changes To TRID Timing And Mortgage Rescission Rules

The bureau is seeking feedback on whether federal disclosure requirements raise costs, delay closings or limit access to mortgage credit