Richard Cordray, Chief of Consumer Protection Bureau, Will Step Down<br />The bureau, created six years ago in the aftermath of the financial crisis, has unusually broad power to uncover<br />and curb abuses in a wide range of financial products, including mortgages, credit cards, bank accounts and student loans.<br />Richard Cordray, the director of the Consumer Financial Protection Bureau, said on Wednesday<br />that he would leave the agency this month, clearing the way for President Trump to reshape a watchdog that has long been loathed by Republicans and the industries that it oversees.<br />Just hours after Mr. Cordray told his staff of his planned departure, the bureau sued a debt collector<br />that it said broke state usury laws by charging illegally high interest rates.
