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2017-11-15 13:45:02
Richard Cordray, Chief of Consumer Protection Agency, to Step Down

Richard Cordray, the director of the Consumer Financial Protection Bureau, said on Wednesday that he would leave the agency this month.

“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,” Mr. Cordray wrote in an email to the agency’s employees. “I am confident that you will continue to move forward, nurture this institution we have built together, and maintain its essential value to the American public. And I trust that new leadership will see that value also and work to preserve it.”

Mr. Cordray, a Democrat and a holdover from the Obama administration, was appointed to a five-year term that was to end in July 2018. He was widely expected to step down before then to run for governor in Ohio, his home state.

Mr. Cordray, who has resisted efforts by the Trump administration and congressional Republicans to rein in regulation, did not discuss his future plans in his email to the bureau’s staff members on Wednesday. A bureau spokesman declined to comment.