President Trump reportedly wants to fire Richard Cordray, the first director of the Consumer Financial Protection Bureau, whose term isn't set to end until July 2018. Republicans dislike the CFPB, set up under the Dodd-Frank banking reform bill to protect American consumers from the financial industry, and Cordray's leadership of it, as House Republicans let him know during a five-hour grilling earlier in April. But Cordray may keep his job for at least a little while longer, Politico reports, in part because of next year's gubernatorial race in Ohio:
Gary Cohn gave Richard Cordray, the head of the Consumer Financial Protection Bureau, an ultimatum over dinner a few weeks ago: Go the easy way, or go the hard way. Cohn, President Donald Trump’s top economic adviser, had heard the rumors that Cordray wanted to run for governor in Ohio. He left dinner that night thinking that they were true, according to people familiar with the meeting. So the White House decided to hold off on firing Cordray. Trump didn’t want to cause a sensation that could boost his candidacy and juice his fundraising. [Politico]
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
The lead paint poisoning scandal rocking ChinaIN THE SPOTLIGHT Sick schoolchildren and allegations of a cover-up have pushed China's public safety concerns back into the public eye
-
Florida judge and DOJ make Epstein trouble for TrumpSpeed Read The Trump administration's request to release grand jury transcripts from the Epstein investigation was denied
-
July 24 editorial cartoonsCartoons Thursday's political cartoons include an abrupt summer recess, the return of Hillary's emails, and an ominous climate announcement
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
