Consumer Financial Protections Bureau (CFPB) Director Richard Cordray sent a memo to agency staff Wednesday announcing that he will retire before the end of November.
“I expect to step down from my position here (CFPB) before the end of the month,” Cordray wrote in a CFPB staff-wide memo.
Many have speculated about Cordray’s retirement announcement, expecting him to announce a run at the Ohio governorship in 2018.
Former Cincinnati Mayor Ken Blackwell and a former high-level Ohio elected official told The Daily Caller News Foundation in October to look for Cordray to run for Ohio governor once he announced his retirement.
“Cordray’s connections have never been disconnected. I know that he is getting inquiries and pressure from Democrats in Ohio. I have no doubt he’ll be getting into Ohio politics,” Blackwell told TheDCNF. “There’s heavy lobbying for him to run for governor.”
Democratic political operatives from Cordray’s time in Ohio politics said in summer 2017 to watch for Cordray to enter the race, a former high-level Ohio state elected official told TheDCNF. The source added that many in the Ohio political class thought that Cordray would announce his candidacy at a Labor Day picnic in Cincinnati.
Ohio Gov. John Kasich is barred by term limits to run for the office again in 2018, which leaves the race open for Cordray and other candidates. The former Ohio politician told TheDCNF that none of the Democratic candidates have the name recognition, or really the political clout, to seriously contend with Cordray if he runs. The source also said the lack of a big-name candidate is also why Ohio Democrats are pressing the CFPB director to make a bid.
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