Breaking News: Cordray Out of the CFPB This Month

Photo credit: CNN

Richard Cordray, the Director of the Consumer Financial Protection Bureau has announced he will resign at the end of this month. Cordray has been at the epicenter of controversy.

His official statement is below:

“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. “Together we have made a real and lasting difference that has improved people’s lives.”

It has been the position of many that he used the lack of Congressional Oversight to abuse the power bestowed upon him. During a hearing in April, Rep. Jeb Hensarling, R-Texas, who chairs the House Financial Services Committee, called for Cordray to be fired.

“For conducting unlawful activities, abusing his authority, denying market participants due process, Richard Cordray should be dismissed by our president. Not only must Mr. Cordray go, but this CFPB must go as well,” Hensarling said.

Let’s hope the next representative represents the interests of American citizens in a fair and ethical manner.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: