Consumer Protection Chief Resigns, Setting Up Fight With Trump Over His Successor

FILE - In this March 26, 2015, file photo, Consumer Financial Protection Bureau (CFPB) Director, Richard Cordray, speaks during a panel discussion in Richmond, Va. The CFPB is considering banning a practice known as forced arbitration for financial services. (AP Photo/Steve Helber, File)
Steve Helber/AP
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Richard Cordray, the director of the Consumer Financial Protection Bureau, resigned on Friday, after announcing earlier in November that he would be stepping down from his post. No matter who President Trump appoints to succeed Cordray at the agency, there is sure to be a fight over that confirmation, as Democratic lawmakers fear an attempt to roll back the protections put in place after the Great Recession.

In his resignation letter, Cordray—who is rumored to be mulling a 2018 bid for governor in his home state of Ohio—says he is proud of his six years at the CFPB. The agency created during the Obama administration worked to implement major reforms to the banking and housing sectors following the 2008 crash.

Cordray has named his former chief of staff Leandra English to serve as acting director until Congress confirms someone to fill the director role.

ABOUT THE AUTHOR

Alice Ollstein is a reporter at Talking Points Memo, covering national politics. She graduated from Oberlin College in 2010 and has been reporting in DC ever since, covering the Supreme Court, Congress and national elections for TV, radio, print, and online outlets. Her work has aired on Free Speech Radio News, All Things Considered, Channel News Asia, and Telesur, and her writing has been published by The Atlantic, La Opinión, and The Hill Rag. She was elected in 2016 as an at-large board member of the DC Chapter of the Society of Professional Journalists. Alice grew up in Santa Monica, California and began working for local newspapers in her early teens.

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