Posts Tagged ‘Congressional Review Act’
On April 17, 2017, Politico reported that top White House economic aide, Gary Cohn, recently met with CFPB Director Richard Cordray and delivered an ultimatum: Resign or face removal by President Trump.
According to the article, Cohn “had heard the rumors that Director Cordray wanted to run for governor in Ohio.” According to people familiar with the meeting, Cohn left the dinner thinking that those rumors were accurate. As a result, the White House opted to delay efforts to fire Cordray because the Trump Administration feared that ousting Cordray might “cause a sensation that could boost his candidacy and juice his fundraising.”
We have discussed how the presidential election and pending PHH case might affect Richard Cordray’s role as CFPB Director. Questions also exist regarding the Bureau’s rulemaking agenda which will undoubtedly be affected by the change of administration and potential changes to CFPB leadership.