Pelosi Statement on Departure of CFPB Director Richard Cordray

Washington, D.C. – Democratic Leader Nancy Pelosi issued this statement after CFPB Director Richard Cordray announced that he will resign at the end of the month:

“Richard Cordray is a patriot and a champion for hard-working families in every corner of the country.  As a state lawmaker, Attorney General and then as Director of the Consumer Financial Protection Bureau, he has dedicated his life to defending all Americans from financial abuse and injustice.

“Under Director Cordray’s wise leadership, the Consumer Financial Protection Bureau has become the protector of millions of Americans targeted by predatory and abusive financial actors.  Thanks to his strong and steady management, the CFPB has returned nearly $12 billion to 29 million wronged Americans, many of them seniors and servicemembers.  Director Cordray has helped give vulnerable Americans a voice, and we are all grateful for his tireless defense of families across the nation.

“Democrats in Congress will be vigilant in ensuring that Director Cordray’s successor will defend and strengthen the Dodd-Frank Act’s historic consumer financial protections.  We will hold the next Director of the Consumer Financial Protection Bureau accountable for upholding his or her responsibility to protect hard-working American families against reckless, abusive and predatory practices in the financial marketplace, and to strengthen the economic security of all.”

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