Consumer chief resigning, expected to run for Ohio governor

Cordray was appointed by former President Barack Obama

FILE - In this Nov. 12, 2013, file photo, Consumer Financial Protection Bureau Director Richard Cordray testifies before a Senate Committee on Banking hearing on Capitol Hill in Washington. The CFPB, the nation’s youngest government agency, recently celebrated its four-year anniversary. (AP Photo/Jacquelyn Martin, File)
FILE - In this Nov. 12, 2013, file photo, Consumer Financial Protection Bureau Director Richard Cordray testifies before a Senate Committee on Banking hearing on Capitol Hill in Washington. The CFPB, the nation’s youngest government agency, recently celebrated its four-year anniversary. (AP Photo/Jacquelyn Martin, File)

WASHINGTON (AP) – Richard Cordray, the director of the Consumer Financial Protection Bureau and an appointee of former President Barack Obama, has announced his resignation.

Cordray plans to resign his office by the end of November. He is expected to return to his home state of Ohio to run for governor. The Democrat has been a leading critic of President Donald Trump within the government.

He was the first confirmed head of the independent agency established by Dodd-Frank, the landmark banking law created after the 2008 economic crisis that was designed to prevent future meltdowns.

Some Republicans had urged Trump to fire Cordray, who was critical of Republican efforts to undermine the Dodd-Frank law.

(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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