Cordray: Regulators Must Not Get "Mired in Partisan Politics" – NMP Skip to main content

Cordray: Regulators Must Not Get "Mired in Partisan Politics"

Jan 25, 2017
Richard Cordray, the first director of the Consumer Financial Protection Bureau (CFPB), is consulting with California Gov. Gavin Newsom on the creation of a state-level version of the federal regulatory agency

The Director of the Consumer Financial Protection Bureau (CFPB) took a thinly veiled shot at the Trump Administration by stressing the independence of federal regulatory agencies, arguing they should exist outside partisan squabbling.

According to a Los Angeles Times report, CFPB Director Richard Cordray insisted that the new White House leadership team “really shouldn’t change the job at all” when it comes to regulators. “We’re expected to work with different administrations of different points of view,” Cordray said at a forum coordinated by the Wall Street Journal. “We have an independent mandate to do what we do and we will continue working to protect consumers.”

While Cordray declined to directly answer whether he would fight any effort by President Trump to fire him, he insisted that his position was designed to be above ideological rancor.

“I was nominated and then confirmed by the Senate to serve a term,” Cordray said. “All the independent federal regulatory agencies have terms that overlap one administration or another. That’s meant to preserve their independence. That’s important because without the independence you end up mired in partisan politics, the big-money special interests … will try to dictate results.”

Whether the new President is preparing to dismiss Cordray is not clear. During a press conference on Monday, White House Press Secretary Sean Spicer said “no decision has been made at this time on that.”

About the author
Published
Jan 25, 2017
Jobs Report Comes In Weak After Mortgage Rates Surge

Employers added just 29,000 jobs in September, sending Treasury yields lower and offering a potential counterweight to the recent rise in mortgage rates

Oct 02, 2026
Price Cuts Hit Four-Year High As Mortgage Rates Top 7%

More than one in five listings took a price cut in September, but pending sales still posted their sharpest annual decline since March 2025

Oct 01, 2026
Serious Mortgage Delinquencies Rise 19% After Five Months Of Improvement

ICE data shows 574,000 mortgages were at least 90 days past due in August, while early-stage delinquencies remained below year-ago levels

Sep 29, 2026
Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Sep 25, 2026
Mortgage Rates Break 7% Just As Builders Find A Way To Move Buyers

New-home sales rose 6.4% in August as builders cut prices, offered incentives, and sold more lower-priced homes. Now mortgage rates are moving against buyers again

Sep 25, 2026
Borrowers Want Digital Closings, But Some Originators Remain Hesitant

ServiceLink finds 45% of surveyed LOs cite borrower reluctance as a barrier, even though most recent buyers say digital options would influence their choice of mortgage provider

Sep 23, 2026