MBA Statement on Resignation of CFPB Director Richard Cordray

CONTACT
Rob Van Raaphorst
rvanraaphorst@mba.org
(202) 557- 2799

WASHINGTON, D.C. (November 15, 2017) - David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association, released the following statement regarding the resignation of Richard Cordray as director of the Consumer Financial Protection Bureau (CFPB):

"I want to congratulate Director Cordray on a successful tenure at the CFPB. He came into the position during a tumultuous time and was successful in solidifying the role the bureau plays in protecting consumers. As we now pivot to the nomination of a new director, it will be imperative that someone is chosen who can provide a balance between the rulemaking process and the need for clarity and consistency in the direction and guidance given to lenders across the country."