Richard Cordray, the former director of the Consumer Financial Protection Bureau who is now running for governor of Ohio, is not a fan of the changes to the agency that have been announced by his successor, acting director Mick Mulvaney.
Speaking yesterday to a reporter for Ohio Public Radio, Cordray accused the CFPB of shifting its priorities away from protecting consumers and instead is now looking out more for the interests of financial firms.
“There has been a shift there to say we have to look out for financial firms which includes scammers and fraudsters and abusive debt collectors and payday lenders and they have rights and interests too,” Cordray sad. “Well, they’ve always been able to assert their rights.”
As a Democrat, there is a political upside to Cordray condemning the moves of Mulvaney, who is a Republican, and the changes at the CFPB. But it also must be hard to watch someone so quickly undo that which you spent years trying to build.
