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Press Release: Richard Cordray’s Resignation from CFPB Opens Door for New Era of Consumer Financial Protection

FOR IMMEDIATE RELEASE

CONTACT: Steve Burke, (703) 683-5004, ext. 1108 or sburke@crcpublicrelations.com.

Richard Cordray’s Resignation from the CFPB Presents an Opportunity for President Trump to Help Consumers

On November 15, Richard Cordray announced his resignation from his position as the director of the Consumer Financial Protection Bureau. Cordray stated he will step down at the end of this month.

Kyle Burgess, Consumers’ Research’s Executive Director, released the following statement on Cordray’s resignation:

“The stated aim of the CFPB is to ‘make consumer financial markets work for consumers, responsible providers, and the economy as a whole.’ However, since its inception, the Bureau has repeatedly prioritized partisan ideology over consumer welfare. By promulgating rules devoid of empirical support and reaching beyond its scope, the Bureau has compromised its mission. The imminent vacancy of Director Cordray’s post is an opportunity to steer the Bureau back onto its intended track: evidence-based governance. To ensure genuine consumer protection and empowerment, it is vital that Cordray’s successor champion integrity, transparency, and accountability to the American people.”

Consumers’ Research experts are available for comment on Cordray’s resignation. Contact Steve Burke at sburke@crcpublicrelations.com to get in touch with a CR expert.

Washington, D.C., November 15 – Consumers’ Research, founded in 1929, is the nation’s oldest consumer organization that seeks to increase the knowledge and understanding of issues, policies, products, and services of concern to consumers. For more information, visit: http://consumersresearch.org/ and follow Consumers’ Research on Twitter at @ConsumersFirst.

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