Federal Consumer chief Cordray to step down…Republican’s look for someone to water down the agency…

In the continual efforts of Republicans to leave individual on their own against corporate America?

Republicans are hoping that Trump will appoint someone in th vein of Education head Betsey DeVos, or the EPA head, who will immediately work to roll back any and just about all protection’s anyone would have supported with government enforcement …..

Republicans are ready for President Trump to bring change to the Consumer Financial Protection Bureau (CFPB) now that Richard Cordray is resigning as director….

The bureau opened in 2011, a year after Obama enacted Dodd–Frank, which mandated the creation of an agency to police predatory lending and consumer fraud. Obama tapped Cordray, who was then Ohio’s attorney general, to lead the new agency.

In the years since, the CFPB has taken on debt collectors, mortgage processors, auto lenders and abusive financial services firms. The bureau fined Wells Fargo more than $100 million for opening up to 2 million fake accounts and returned $12 billion to more than 29 million defrauded consumers.

Republican lawmakers say the agency has run amok, hindering commerce, holding back growth, illegally writing law and violating the Constitution.

They were eager for Trump to fire Cordray, but the bureau’s complicated status as an independent agency subject to court challenges made it unclear if the president could legally do so.

Trump also reportedly feared that firing Cordray, who’s reportedly mulling a run for Ohio governor, would turn the director into a martyr and catapult his political career….

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