Ellison Statement on Consumer Financial Protection Bureau Leadership
WASHINGTON – In response to reports that Richard Cordray will step down as Director of the Consumer Financial Protection Bureau, Rep. Keith Ellison issued the following statement:
“Richard Cordray is an exceptional advocate for working families, and I firmly believe his work to protect Americans from deceptive exploitation by the world’s biggest financial institutions has left our nation better off. Under Mr. Cordray's leadership, the Consumer Bureau cracked down on predatory mortgage lending, kickbacks in home purchases, and abusive payday loans and debt collection practices. Anyone with a bank account, student loan, mortgage, auto loan, or credit score has been helped by his work—as have more than 29 million people who have received monetary relief because of the Consumer Financial Protection Bureau’s work. His departure leaves big shoes to fill—and we now have to be vigilant in ensuring that whoever replaces him shares his unshakable commitment to standing up against the wealthy and powerful."