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Richard Cordray to step down from the Consumer Financial Protection Bureau

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Posted at 12:38 PM, Nov 15, 2017
and last updated 2017-11-15 12:38:24-05

Richard Cordray is stepping down from his post leading the Consumer Financial Protection Bureau.

Cordray said Wednesday that he plans to resign as director at the end of the month.

"It has been a joy of my life to have the opportunity to serve our country as the first director of the Consumer Bureau by working alongside all of you here. Together we have made a real and lasting difference that has improved people's lives," he said in a note to CFPB staff.

Cordray, who was appointed by President Obama, has served as the agency's chief since 2013.

The CFPB was created in 2011 as part of the Dodd-Frank reforms that followed the 2008 financial crisis.