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Politics & MoneyMortgage

Ballard Spahr: 8 questions we wish CFPB Director Cordray would answer

What if President Donald Trump tries to fire you?

An interview with Consumer Financial protection Bureau Director Richard Cordray doesn’t come around often. The man sitting behind the agency’s top desk spends his days focused on regulatory affairs rather than discussing the highly controversial agency.

To him, the future of the bureau lies in the hands of government officials, as his daily job remains to protect consumers.

On's Speakeasy with John Harwood on Thursday, as covered here, Cordray finally voiced some of his thoughts on the controversy surrounding his job and agency.  

But the conversation still only addressed a small portion of the ever-increasing questions for Cordray.

The CFPB and Cordray are currently locked in a heated battle with PHH over its constitutionality, and on top of this, there are four different acts of Congress being pushed out to change, or even abolish, the agency. People most certainly have questions about all of this.

Cordray did answer early on in his interview that he thinks the independence of a consumer watchdog is very much worth fighting for.

Given that mindset, Alan Kaplinsky stated in Ballard Spahr’s blog on the CFPB that the interview was more noteworthy for what it failed to cover than for what it covered. 

Kaplinsky listed 8 more questions that he wished Cordray would’ve answered.

Here are three of the questions he listed. Check the blog for the full list.

  1. If President Trump tries to remove you for cause, will you fight the removal in court?
  2. Rumors are swirling that you intend to run for Governor in Ohio? Are the rumors true and, if so, when would you need to resign and begin your campaign?
  3. Have you had discussions with anyone in the White House or part of the transition team and, if so, what message have they delivered to you?

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