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CFPB Director Richard Cordray to step down

A champion to consumer advocates, Cordrays exit this month from the Consumer Financial Protection Bureau lets the Trump White House install a more industry-friendly head of the CFPB.

A champion to consumer advocates, Richard Cordray is leaving his position as director of the Consumer Financial Protection Bureau. (Photo: AP)

Richard Cordray is stepping down as the director of the Consumer Financial Protection Bureau after spending more than five years building up the Obama-era agency from scratch and fostering it into a powerful regulator.

Related: CFPB warns of 3 pension advance traps

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