Former CFPB Director Richard Cordray to Run for Ohio Governor

Former CFPB Director Richard Cordray to Run for Ohio Governor

December 6, 2017         Written By Lynn Oldshue

After Richard Cordray stepped down as director for the Consumer Financial Protection Bureau, many suspected he would run for Governor of Ohio. Those speculations have now been realized as Cordray announced his candidacy as a Democrat this morning.

Cordray was the first director for the CFPB, and during his time with the agency, he became a well-respected figurehead with the Democratic party.

During his announcement for candidacy, Cordray referred to his time with the Bureau as a “character builder.” Cordray will face five opponents in the May primaries, including Ohio Supreme Court Justice Bill O’Neill who said he would remove himself from the race if Cordray entered it. However, O’Neill now says he wants to confirm Cordray’s support of developing better mental health hospitals and legalizing marijuana before withdrawing.

What happened to the CFPB after Cordray’s departure? Cordray selected the Bureau’s chief of staff Leandra English to be deputy director and said she would serve as acting director until the Senate confirmed a replacement. However, President Trump appointed the White House budget director Mick Mulvaney to assume the role of acting director. Mulvaney has long stood against the CFPB, referring to it as a “joke” that should not exist.

English went on to file a suit against Mulvaney, but her request for injunction was denied. Mulvaney has been in control of the CFPB since November 27 but will be replaced by a permanent director of Trump’s choosing in the future.

The information contained within this article was accurate as of December 6, 2017. For up-to-date
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About Lynn Oldshue

Lynn Oldshue has written personal finance stories for for twelve years. She majored in public relations at Mississippi State University.
View all posts by Lynn Oldshue
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