Alert: Cordray to Step Down as CFPB Director

November 15, 2017

Richard Cordray announced he would step down as director of the Consumer Financial Protection Bureau at the end of the month.

"As I have said many times, but feel just as much today as I ever have, 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," he wrote in an email to CFPB staff.

What's Next

At this point, CFPB's leadership will remain as a single director since it would take Congressional action to change the structure to a bipartisan independent commission. Cordray's departure will certainly spur interest in the legislation to change the CFPB to be led by a commission, a bill ALTA supports. Early chatter on potential candidates to fill the position include Jeb HensarlingRandy NeugebauerMark CalabriaAndrew Olmem and Jared Sawyer.

What You Can Do

If you have a relationship with any of the CFPB staff, ALTA encourages you to keep in touch with them and support them during the leadership transition. ALTA will provide additional information in next week's Advocacy Update.

Contact ALTA at 202-296-3671 or