Richard Cordray Announces Resignation From CFPB

Richard Cordray, the Obama-appointed director of the Consumer Financial Protection Bureau (CFPB), announces resignation—stating that he will step down before the end of the month.

Cordray officially announced his resignation in an email to employees.

“As I have said many times, but feel just as much today as I ever have, it has been a joy of my life to have the opportunity to serve our country as the first director of the Consumer Bureau by working alongside all of you here,” he wrote.

“I wish Mr. Cordray success in his next endeavor,” said Five Star President and CEO Ed Delgado. “A change in leadership at the CFPB presents an opportunity for the bureau and the federal government to strike a collaborative stance toward common-sense regulatory reform that protects the interests of homeowners. We look forward to continuing to work with the bureau on issues of concern in promoting homeownership.”

Cordray has been rumored to be considering a run for governor of Ohio, but he gave no indication Wednesday of what his plans are.

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