Politics & MoneyMortgage

Trump is convinced CFPB Director Cordray will leave bureau on his own

Politico: Decided not to fire based on Cordray's ambition to be Ohio governor

It’s no secret that President Donald Trump wants to fire the director of the Consumer Financial Protection Bureau, Richard Cordray, who has also been under intense pressure from Republicans in Congress who want to see him gone.

So what’s stopping him?

According to a Politico article published Monday, Trump held off on firing the director because Trump’s top economic advisor, Gary Cohn, had dinner with Cordray a few weeks ago and seems convinced he will leave of his own accord to run for Ohio governor.

From the article:

Gary Cohn gave Richard Cordray, the head of the Consumer Financial Protection Bureau, an ultimatum over dinner a few weeks ago: Go the easy way or go the hard way.

According to the article, Cohn left the dinner sure that Cordray intends to mount a gubernatorial campaign, so the White House decided to delay firing him, thus depriving him of fodder for fundraising.

The article examines whether Cordray, who is very popular in Ohio, would have a good shot at winning the governor’s race. A win might be much more likely than his critics inside the Beltway, and they are many, suspect.

While Cordray might look unpopular in Washington, in Ohio he has a far different reputation. If he does run, he could be the only Democratic candidate with the chops to defeat a strong Republican opponent.

Read the whole article here



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