CNBC reported that a move to fire Cordray was brought up during the signing of the bill that rolls back the CFPB’s arbitration rule
President Donald Trump is avoiding a move that would make Consumer Financial Protection Bureau Director Richard Cordray a “martyr” to those on the left, according to a CNBC report.
The report cited three sources who attended the Oval Office signing of the bill that rolls back the CFPB’s arbitration rule.
The signing, which also had lawmakers and financial services interest groups in attendance, became a venting session about Cordray, the CNBC report said, citing six attendees and two people briefed on the conversation.
During the signing, House Financial Services Committee chair Rep. Jeb Hensarling (R-Texas) remarked that the president would exert less effort to undo CFPB regulations is he removed Cordray, according to the CNBC report. Hensarling, who has announced that he will not seek reelection when his term ends in 2018, has long pushed for the removal of the CFPB head.
Trump responded by going around the room to ask what he should do about the CFPB director, the news outlet said. Hensarling and Rep. Sean Duffy (R-Wis.) pushed for Cordray to be fired, but a White House official said there was no unanimous view, CNBC said.
President Trump and the White House share the view that firing Cordray would risk affording him hero status and fundraising momentum in the swing state of Ohio. Cordray has long been rumored to be considering a run for the state’s governor seat.
CNBC said the White House declined to comment on the record.
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The report cited three sources who attended the Oval Office signing of the bill that rolls back the CFPB’s arbitration rule.
The signing, which also had lawmakers and financial services interest groups in attendance, became a venting session about Cordray, the CNBC report said, citing six attendees and two people briefed on the conversation.
During the signing, House Financial Services Committee chair Rep. Jeb Hensarling (R-Texas) remarked that the president would exert less effort to undo CFPB regulations is he removed Cordray, according to the CNBC report. Hensarling, who has announced that he will not seek reelection when his term ends in 2018, has long pushed for the removal of the CFPB head.
Trump responded by going around the room to ask what he should do about the CFPB director, the news outlet said. Hensarling and Rep. Sean Duffy (R-Wis.) pushed for Cordray to be fired, but a White House official said there was no unanimous view, CNBC said.
President Trump and the White House share the view that firing Cordray would risk affording him hero status and fundraising momentum in the swing state of Ohio. Cordray has long been rumored to be considering a run for the state’s governor seat.
CNBC said the White House declined to comment on the record.
Related stories:
Cordray: CFPB’s work will always matter
Republican governors seek records over Cordray’s potential Hatch Act violation
