Statement On Resignation Of Director Of Consumer Financial Protection Bureau

November 16, 2017

Rep. Matthew Lesser (D-Middletown), House chair of the legislature’s Banking Committee, issued the following statement Thursday on Richard Cordray’s resignation as director of the federal Consumer Financial Protection Bureau:

“As a state legislator, it’s been incredible to have an ally like Richard Cordray as a partner. Under the leadership of Director Cordray, the Consumer Financial Protection Bureau has been an outstanding champion of ordinary consumers at a time when the deck is usually stacked against them. Time after time CFPB has partnered with Connecticut, working with us to protect consumers from student loan industry abuses, customers harmed by wrongdoing by Equifax and Wells Fargo, and victims of payday lenders and aggressive debt collectors.

“Although I hope that the next CFPB director will follow Richard Cordray's lead, the playing field will likely shift to the states and make it critically important that we have state leaders step up to ensure that consumers’ financial interests are protected.”