New York, NY – After Richard Cordray announced that he would be resigning from his role as Director of the Consumer Financial Protection Bureau (CFPB), Tamara Draut, Vice President of Policy and Research at Demos and Demos Action, released the following statement:
“The CFPB’s mission is simple but crucial to the success of every working and middle-class family in our country: protect consumers from reckless, abusive, and fraudulent financial practices. In his role as Director, Cordray became a stalwart champion of working families and helped to return more than $12 billion to 29 million Americans who had been wronged by predatory financial companies.
“Congress must now ensure that the new Director can and will uphold Cordray’s legacy of protecting American consumers and holding powerful financial institutions accountable for fraudulent and abusive practices. Demos will fight to ensure the integrity of the CFPB remains intact.”