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Under Mr. Cordray’s leadership, the CFPB held banks and financial institutions accountable as they interact with consumers – ensuring clear & streamlined processes, penalties for bad practices & the creation of tools to allow the American public to make smart financial decisions.
Since January, the CFPB has been under attack by my Republican colleagues and this Administration - to weaken the bureau will open the door for bad actors in the banking and financial sectors to repeat practices that lead to the worst recession since the Great Depression.
As Mr. Cordray steps down, I urge the President to immediately appoint a new director of the CFPB that will be just as dedicated to the agency’s mission.
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