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ARTICLE · 21 NOVEMBER 2017

CFPB Director Richard Cordray To Step Down

Troutman Pepper Locke LLP
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Richard Cordray, the Director of the Consumer Financial Protection Bureau ("CFPB"), announced today that he plans to step down from that post by the end of the month.

United StatesFinance and Banking
David Anthony
David Anthony
Stephen Piepgrass
Stephen Piepgrass
Alan Wingfield
Alan Wingfield
Cindy Hanson
Cindy Hanson
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Richard Cordray, the Director of the Consumer Financial Protection Bureau ("CFPB"), announced today that he plans to step down from that post by the end of the month. Cordray's term was otherwise set to expire in July of 2018.

Cordray, who was appointed by the Obama Administration after the CFPB was created in 2011, issued his announcement in an e-mail to CFPB staff. "Together, we have made a real and lasting difference that has improved people's lives," Cordray said in the e-mail. "I trust that new leadership will see that value also and work to preserve it – perhaps in different ways than before, but desiring, as I have done, to serve in ways that benefit and strengthen our economy and our country."

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