Buckley Sandler Special Alert: Cordray to resign as director of CFPB
Buckley Special Alert
Richard Cordray said today in an email to the staff of the Consumer Financial Protection Bureau that he will resign as director before the end of November. While it has long been expected that he would seek the Democratic nomination for the governorship of Ohio, he did not specify his plans in the email.
Richard Cordray is the first confirmed Director of the CFPB, which was created by the Dodd-Frank Act in the wake of the financial crisis. Following his recess appointment by President Obama in January 2012, Cordray oversaw an aggressive rulemaking and enforcement agenda, which accelerated following the election of President Trump in November 2016.
If you have questions about the announcement or other related issues, please visit our Consumer Financial Protection Bureau practice page, or contact a Buckley Sandler attorney with whom you have worked in the past.