The resignation of CFPB Director Richard Cordray gives President Trump the chance to name a director who could roll back agency rules and supervisory policies.
It’s a seat the Trump administration has long wanted vacated, and now it gets a chance to fill it — and change the direction of an agency that’s been a thorn in Republicans’ side. Following are the top candidates:
If CFPB Director Richard Cordray does not leave soon - as has been widely expected - it may be that he has used rumors of his possible political aspirations to successfully keep Trump from firing him.
Cordray is still keeping everyone guessing about whether he is staying or running for governor of Ohio. And Republicans could weaken the agency by putting one of their own in charge and rolling back many of the rules it’s set.
The Consumer Financial Protection Bureau said 42% of car loans issued in the last year had a repayment term of six years or more, a huge leap over the 26% of car loans that had such longer terms in 2009.
CFPB Director Richard Cordray sent a letter to President Trump Monday asking him to veto a Republican resolution to nullify the bureau's arbitration rule.
