9/4/2017

CONSUMER PROTECTION: “Democrat Richard Cordray delivered a campaign-style stump speech at a sprawling Labor Day celebration on Monday [9-4-17], but the U.S. Consumer Financial Protection Bureau chief stopped short of saying whether he intends to run for governor of Ohio.
If Cordray were to step down to run for political office it would allow President Donald Trump to appoint a successor as head of the consumer watchdog agency, which has stoked the ire of Wall Street with steep penalties for misconduct and tougher rules on lending…
An Ohio native, he has been widely expected to jump into the race for governor and clearly appeared to be testing the political waters with his speech on Monday.
Though many had speculated he would use the occasion to announce his candidacy, activists and political leaders said any formal announcement about Cordray’s plans to enter the 2018 contest would wait until the CFPB finalizes a long-awaited rule restricting the activity of payday lenders.”

-Lisa Lambert, “U.S. consumer watchdog chief Cordray tests Ohio’s election waters,” Reuters, Sept. 4, 2017 06:50am