Today, Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, made the following statement in response to Consumer Financial Protection Bureau Director Richard Cordray’s announcement that he will step down this month:

“Richard Cordray is a true champion for American consumers. Under his outstanding leadership, the Consumer Bureau has made the financial marketplace stronger and fairer for hardworking Americans across the country. As the first Director of the Consumer Bureau, he has overseen the implementation of much needed rules on mortgages, prepaid cards, and payday and auto title loans, clamping down on unfair practices and ensuring that consumers are not ripped off. The Consumer Bureau has provided $12 billion in relief for nearly 30 million consumers who have been harmed by financial institutions, and handled over 1.3 million consumer complaints. During his time leading this important agency, he has made a tremendous, positive impact that cannot be overstated. I thank Mr. Cordray for always standing up for all Americans and standing up to abusive financial institutions.”

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