Richard Cordray Steps Down As Consumer Protection Director

Richard Cordray is stepping down from his post as head of the Consumer Financial Protection Bureau, stoking speculation that he may soon join the field of Democratic candidates running for Ohio governor.

Cordray, a former Ohio attorney general, told staff in an email that he would step down before the end of November.

“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,” he wrote.

For some time, it’s been seen as possible that he would jump into the race, but Cordray himself has declined to comment on the subject. By law, Cordray is unable to campaign while serving in his federal post.

Republicans have criticized the bureau and Cordray’s leadership of it.