Rep. Maloney on CFPB Director Corday’s Resignation

Nov 15, 2017
Press Release

WASHINGTON, DC – In response to the announcement that Consumer Financial Protection Bureau (CFPB) Director Richard Cordray will resign from his post before the end of the month, Congresswoman Carolyn B. Maloney (NY-12), senior member on the House Committee on Financial Services and sponsor of the Credit Card Holder Bill of Rights, released the following statement:

“Director Cordray led the first federal agency totally devoted to protecting consumers and he achieved more than any of us could have imagined when we created the CFPB during Dodd Frank. Under Director Cordray’s historic tenure, the CFPB resolved more than 1.3 million consumer complaints and secured over $12 billion for nearly 30 million consumers who were wronged by financial institutions. The CFPB put in place strong, new consumer protection rules that outlaw deceptive lending practices and require that consumers be given the information they need before making critical financial decisions. As a result of Director Cordray’s leadership, consumers are far better off than they were before he took office, and our country has a stronger financial marketplace. Director Cordray is leaving big shoes to fill for his successor and the nation owes him a debt of gratitude for the work he has done on behalf of all Americans.”