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Government & Politics

Cordray Defends His Actions While Debate Over Who Will Lead CFPB Continues

Richard Cordray

General Richard Cordray is defending his decision to step down as head of the Consumer Financial Protection Bureau and to appoint his replacement. Cordray, who is a former Ohio attorney general and an expected candidate for governor, appointed his deputy director to take the interim position.

Talking on NPR’s Morning Edition today, Cordray addressed concerns that his actions were political.

“So the mission of the (Consumer Financial Protection) Bureau is to stand up on the side of consumers and see that they’re treated fairly. I think that is a pretty uncontroversial mission. It’s been made controversial by some but I think it’s an important mission. It keeps the financial companies honest. They’re doing very well if they serve their customers well and that’s exactly what the consumer bureau is working with them to do.”

The White House has appointed the head of the Office of Management and Budget, Mick Mulvaney, as the temporary head. Cordray’s pick Leandra English has filed suit challenging the move by the Trump administration.