We have previously blogged about two upcoming events that have led to speculation that Richard Cordray is about to resign as CFPB Director. The first event is a speech he is giving in Cincinnati, Ohio at a Labor Day picnic sponsored by the AFL-CIO. That seems like an ideal venue to launch his campaign for Governor of Ohio. The second is an Ohio gubernatorial debate on September 12.
There is now a third sign that his resignation may be imminent. The CFPB this week posted on its website a notice of a meeting on September 7, 2017 at 3:30pm of the Fall 2017 Credit Union Advisory Council Meeting in Washington, D.C. The notice states that Acting Deputy Director David Silberman will be present and will make some remarks. This represents a departure from Director Cordray’s usual practice of giving remarks at advisory group meetings. Acting Deputy Director Silberman has given remarks in Director Corday’s stead very rarely.
While Director Cordray has stated nothing publicly about his intent to resign, this latest CFPB announcement supports the notion that he will resign at the end of next week, perhaps after issuing the final small dollar lending rule.