Thomas Phippen on August 31, 2017
Consumer Financial Protection Bureau (CFPB) director Richard Cordray is being intentionally vague about whether he plans to run for Ohio governor as a Democrat, and Republicans are getting upset.
Friends of Cordray have hinted for months that he will run for governor, meaning he would have to leave his post at the CFPB before his term is officially up in 2018 to campaign, but Cordray not been forthcoming about his plans.
Texas Republican Rep. Jeb Hensarling, who chairs the House Committee on Financial Services which oversees the CFPB, asked Cordray whether he plans to finish out his term.
“You ask whether I intend to serve my full statutory term,” Cordray said in a letter to to Hensarling Wednesday. “At this time, I have no further insights to provide on that subject.”
“I am disappointed by Director Cordray’s steadfast refusal to be transparent with the public about his intentions,” Hensarling said in a statement to Reuters. “If he intends to serve his full term, there is no reason not to say so. The only reasonable conclusion is that he therefore harbors partisan political ambitions, which calls into question the propriety of all of his recent and future actions as CFPB Director.”
Cordray is the first director of the CFPB, which was created by the 2010 Dodd-Frank Act, charged with to standing up for consumers to make sure everyone is treated fairly.
Running for political office while holding a position in the federal government violates the Hatch Act designed to protect the administration from partisanship. Hensarling asked the Office of Special Counsel to investigate a potential Hatch Act violation in July after an Ohio supreme court justice and friend of Cordray told Cleveland.com that Cordray was mounting a gubernatorial campaign as a Democrat.
Hensarling has not been quiet about his disapproval of Cordray, and even asked President Donald Trump to fire him.
“I believe the president is clearly justified in dismissing you and I call upon the president… to do just that, and to do it immediately,” Hensarling told Cordray at an April hearing.
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Apparently being a Republican means nothing to it’s politicians. The party must start expelling RINOs or it will go the way of the Whig It’s not far from extinction now.
Trump should fire him in defiance of federal statute and take the CFPB abd Federal Reserve to court over this issue.
The Hatch Act says that Richard Cordrey cannot campaign for public office while working in his job.
Rep. Hensarling wants Cordrey to announce his campaign now, so that Cordrey would break the law, and he is angry that Cordrey follows the law.
Huh?
From what I understand, Dodd Frank made it more difficult to borrow money. What Clinton did was worse though. He forced banks to loan money to people who had no bus. borrowing money for a house. If they didn’t they could get sued for some sort of discrimination. So, they lost their houses instead. Those in the business took advantage of the law and between them and borrowers, the banks almost crash because real estate tanked, etc. There has to be a happy medium. From what I understand, Trump wants to have or had the banks do something to make it easier for people to borrow money for investments, without going to far to the other side. He wants to find the sweet spot. With that said (my soap box) who cares if this guy runs as a Democrat for Gov. Kasich wants to be President. He is running in 2020 with a Democrat as an independent. Let them. He has shown himself not to be the man I thought he was anyway. I use to be a huge supporter and fan. What the Republicans in Ohio have to remember is, the Democrats are terrified that if Trump’s policies get through, they will be wildly successful, and they won’t have anything to run on. They are afraid they will be permanently out of power. Well, that is ridiculous. History has already shown us that. They will have to come up with some new lies to tell people. The Republicans who fight Trump will find themselves being replaced anyway. The majority will grow in the next election, and Trump will be re-elected. If he is given a chance to have a failure, Congress isn’t giving it to him. They don’t seem to be able to get anything passed. In most cases, I would say that is a good thing. This time, we actually have a chance for tax reform and we can get rid of the AHCA (Obama Care). We can’t afford the cost on the gov’t. side, or the personal side. But, there is nothing wrong with replacing the old farts with fresh new blood anyway. So, who cares. He most likely won’t win.