Richard Cordray Faces More Criticism Over His Scandal-Plagued Mismanagement of CFPB

Washington D.C. Bureaucrat Richard Cordray’s scandal-plagued tenure as head of the Consumer Financial Protection Bureau continues to draw more controversy for his gubernatorial campaign in Ohio. A new column in The Hill slammed Cordray’s egregious mismanagement of the CFPB, noting “allegations of discrimination based on race, age, gender, and sexual orientation” while he served as its director and how its burdensome anti-business regulations hurt taxpayers. As Cordray’s numerous potential scandals attract more headlines with each passing week, Ohioans continue to learn why he doesn’t belong anywhere near the governor’s office.

Gregory T. Angelo writes in The Hill:

“Under Cordray, the CFPB ballooned in size and scope. In its first year of existence, the agency employed 58 people. Last year, and the agency had nearly 1,700 employees — a roughly 2,750 percent increase in less than a decade.

As you might imagine, the CFPB’s expansion has led to even more judicious rulemaking — all under a cloud of allegations of discrimination based on race, age, gender, and sexual orientation. In one recent year, the total financial impact of regulations and lost revenue to credit unions surpassed $7 billion.

If there is indeed a Washington swamp, then the CFPB is its poster child. Director Mulvaney should drain it posthaste.”