Are Richard Cordray's days as CFPB director numbered? Growing momentum in Congress to replace current leadership structure

The Housing Wire reports:

In his nearly three years as the director of the Consumer Financial Protection Bureau, Richard Cordray made friends and enemies on both sides of the aisle in Congress, on Wall Street and beyond.

Cordray, who took over as the CFPB’s first director in 2013 after serving as Ohio’s attorney general, is currently serving a five-year term as the head of the country’s top financial regulator, with his term set to expire in 2018.

But several new reports suggest that Cordray’s time as CFPB director, at least as the role is currently constructed, could be ending soon.

Throughout Cordray’s time as the sole director, many Republicans on Capitol Hill took issue with the amount of power that Cordray is able to yield, and now Cordray’s power could be limited or taken away entirely thanks to a growing movement in Congress.

According to a new report from Compass Point Research & Trading, there is a “growing willingness” among some Democrats in Congress to reconsider the leadership structure of the CFPB.

Tyranny update.