Cordray Calls CFPB Crisis 'Temporary' | NTK Network Cordray Calls CFPB Crisis ‘Temporary’

Cordray Calls CFPB Crisis ‘Temporary’

A crisis that he largely started was always going to be short-term and unnecessary.

By NTK Staff | 11.29.2017 @8:30am
Cordray Calls CFPB Crisis ‘Temporary’

Former Consumer Financial Protection Bureau (CFPB) Director Richard Cordray told Politico on Tuesday that the crisis at the agency is “temporary.”

Cordray, now mentioned as a possible gubernatorial candidate in Ohio, left the job last week. Before he left, however, he ensured that the organization would face a chaotic and hectic transition:

Richard Cordray, the former director of the Consumer Financial Protection Bureau, said the chaos surrounding the agency’s leadership is temporary and is likely to be resolved when a permanent director is confirmed.

Cordray, who chose Leandra English to be acting director when he stepped down on Friday, said the process of a Senate confirmation can make a difference in how a nominee governs an agency as views evolve and get refined.

A federal judge reaffirmed the legality of the president’s choice of Mick Mulvaney in a ruling on Tuesday.

Cordray also admitted in the interview that the whole crisis of leadership would blow over as soon as the president made a permanent nomination, rendering Cordray’s power-grab a useless political move in the long run:

“Ultimately, Trump will make an appointment,” Cordray told POLITICO. “They will have to go through a confirmation process, and we won’t have somebody who is holding two offices at once,” he said, referring to White House Budget Director Mick Mulvaney, who was tapped by President Donald Trump to serve as acting director of the bureau.

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