From the Web: ‘CFPB Director Evasive About Possible Resignation’

8/31/2017 2:50 PM

U.S. Rep. Jeb Hensarling requests details on CFPB Director Richard Cordray’s possible resignation and its impact on the timing of the rulemaking for the payday lending industry.


Consumer Financial Protection Bureau Director Richard Cordray has provided little information in response to a request from U.S. Rep. Jeb Hensarling, R-Texas, about his possible resignation and plans to run for governor in Ohio, Reuters reports.

“At this time, I have no further insights to provide on that subject,” Cordray said in his letter to Hensarling, chairman of the House Financial Services Committee

Cordray also rejected claims that the CFPB may be “rushing” to release its rule for the payday lending industry before his possible resignation. He also noted in his letter to Hensarling that the congressman has previously asked the same question, according to the article.

“I am disappointed by Director Cordray’s steadfast refusal to be transparent with the public about his intentions. If he intends to serve his full term, there is no reason not to say so,” Hensarling said in a statement to Reuters.

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