Cordray Slams Mortgage Industry in Second (Campaign?) Appearance
September 25, 2017
In remarks that “sure sounded like a campaign speech,” according to one long-time industry compliance attorney, CFPB Director Richard Cordray threw the mortgage industry under the bus, accusing it of causing the financial crisis and the Great Recession that followed. Two weeks ago, Cordray delivered the keynote address at the Ohio Land Bank Conference in Cleveland, the same day the Democrat Party primary debate for the Ohio gubernatorial race was held. Some political observers were watching to see if the director would give his speech, resign and then appear in the debate. They were disappointed.But that doesn’t mean Cordray won’t resign before his term ends in July to pursue a run for the governor’s mansion. He has until 4 p.m. ...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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