Cordray Vows to Stay at CFPB, Cites Independence

Richard Cordray, the beleaguered director of the Consumer Financial Protection Bureau, said today that he has no intention of stepping down despite Republican calls for his ouster.

Asked about his job status at a Wall Street Journal event in Washington, Cordray said he was nominated to his five-year term as the first-ever director of the CFPB by Democratic President Barack Obama and confirmed by the Senate in 2013. His term straddles two presidential terms by design, to ensure independence for his office, he said.

“Without the independence, you end up mired in partisan politics,” Cordray said. “The independence is an ...