Schumer Statement on CFPB Director Cordray’s Decision to Step Down

Washington, D.C. – U.S. Senator Chuck Schumer today released the following statement regarding Richard Cordray’s announcement he will be stepping down as the director of the Consumer Financial Protection Bureau (CFPB):

“Richard Cordray was an ideal person to serve as the first director of the CFPB. He brought energy, passion, and a zealous commitment to doing right by consumers to the job, and has set the mold for all future directors of the CFPB. He’ll be sorely missed.

“The Trump administration has a troubling pattern of appointing individuals with contempt towards government agencies to run those very departments. They’ve repeatedly assigned foxes to guard the hen house, but I hope they won’t do that with the CFPB.

“The nominee to replace Mr. Cordray should have a proven record of putting consumers before the special interests and pledge to do so as the CFPB director. That will be the standard by which the Senate judges this nomination.”