This story appeared in Bank Digest.
Several Democratic senators have written to President Donald Trump encouraging him to resist calls "from Wall Street and their allies" to remove Consumer Financial Protection Bureau Director Richard Cordray. The letter was signed by Senators Dick Durbin (D-Ill), Patty Murray (D-Wash), Debbie Stabenow (D-Mich), Sherrod Brown (D-Ohio), and Patrick Leahy (D-Vt).
According to the senators, during Cordray's tenure as CFPB director, "the agency has successfully and responsibly used its authority to protect working class consumers from illegal, deceptive, and predatory practices in the financial marketplace." They added, "Yielding to calls for his removal are not only ill-advised, but illegal, and will lead to restoring power back to the very interests from which you vowed to protect the American people."