Cordray Announces He Will Step Down From CFPB

Nov 15, 2017

Cordray will step down from the CFPB before the end of the month.

After months of speculation, it appears a shake-up in the Democratic race for governor next year is starting. A potential candidate who is likely to be a front runner in that contest has made a big move.

The Consumer Financial Protection Bureau has released a letter from director Richard Cordray, announcing that he’s stepping down before the end of the month. That job was preventing the former Ohio treasurer and attorney general from even addressing the speculation that he would run for governor next year.  

If he does, he’ll join a field that already has four official candidates and Ohio Supreme Court Justice Bill O’Neill, who said he would jump in if Cordray didn’t.

If Cordray does leave that office by the end of the month and announce he’s running, he could be vetted in time to join the next Democratic debate with Sen. Joe Schiavoni, former Congresswoman Betty Sutton, former state rep Connie Pillich and Dayton mayor Nan Whaley.  That debate is scheduled December 4th in Cleveland.