Rep. Al Green Joins Fellow House Democrats, Urging President-Elect Trump to Reject Attempts to Remove CFPB Director Richard Cordray
(Washington, DC)--On Tuesday, January 10, 2017, Rep. Al Green (TX-09) signed a letter with fellow House Democrats calling on President-elect Donald Trump to reject any attempts to remove the Director of the Consumer Financial Protection Bureau (CFPB), Richard Cordray, prior to the expiration of his term in July 2018. The CFPB, under the leadership of Director Richard Cordray, has worked to protect consumers from predatory lending practices and fairly regulate financial institutions.
“Any attempts to remove Director Cordray from his position are without historical precedent, and intended solely to distract the Director and the Bureau from its important work protecting servicemembers, students and other borrowers from financial predation,” the lawmakers wrote in the letter. “We caution you not to engage in partisan litigation, particularly since it is likely to be unsuccessful and will needlessly divert government resources away from other important priorities.”
In a letter to President-elect Trump, the Members indicated that they will strongly oppose any action to remove Director Cordray from his position as CFPB Director. Additionally, they reminded the President-elect that no President has ever removed an independent agency head for cause.
“The CFPB, under the leadership of Director Cordray, has been invaluable for those in Congress who are the most passionate about promoting equitable lending and fair financial practices for all Americans,” Rep. Al Green said. “I trust that for the rest of his term Director Cordray will remain at the forefront of the charge to educate consumers and protect them from invidious discrimination.”
The full text of the letter.