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Head of Consumer Protection Bureau Resigns, Expected to Run for Ohio Governor
By: Associated Press
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WASHINGTON (AP) – Richard Cordray, the director of the Consumer Financial Protection Bureau and an appointee of former President Barack Obama, has announced his resignation.
Cordray plans to resign his office by the end of November. He is expected to return to his home state of Ohio to run for governor. The Democrat has been a leading critic of President Donald Trump within the government.
He was the first confirmed head of the independent agency established by Dodd-Frank, the landmark banking law created after the 2008 economic crisis that was designed to prevent future meltdowns.
Some Republicans had urged Trump to fire Cordray, who was critical of Republican efforts to undermine the Dodd-Frank law.