WASHINGTON—Republicans in Congress are searching for any transgressions that might have been committed by CFPB Director Richard Cordray in order to give grounds to President-elect Trump to fire him.
The Wall Street Journal reported that the GOP is searching for anything Cordray might have done wrong because it’s the only way to remove him: the 2010 Dodd-Frank Act that created the CFPB states that the president may only remove its director for “inefficiency, neglect of duty, or malfeasance in office.”
According to the Journal, one of the issues Mr. Cordray’s opponents are focusing on: past allegations of pay discrimination against women and minority employees at the CFPB and his alleged failure to take appropriate action. Republican lawmakers had sharply criticized the CFPB over the allegations in 2014 and 2015. The agency has said it has taken steps to address employee complaints, the Journal noted.
In a statement to the Journal, Jen Howard, a CFPB spokesperson, said that Mr. Cordray “was confirmed by a bipartisan group of 66 senators to serve a term until July 2018 and has no plans to step down.”