Jamie Fulmer, senior vice president of public affairs at Advance America, issued the following statement regarding former Consumer Financial Protection Bureau (CFPB) Director Richard Cordray's announcement that he is running for governor of Ohio:
"Richard Cordray finally owned up to his political ambitions today, declaring his candidacy for governor of Ohio after spending six years using the CFPB as a political campaign incubator. While serving as the CFPB's politically-motivated director, Cordray undermined the independent spirit of the agency's origins. He consistently pursued an agenda dictated by political ideology and partisan politics, raising serious questions about the CFPB's work, including its small-dollar lending rule. He sought to cement his legacy at the CFPB with an 11th-hour succession stunt that only further distorted the Bureau's important mission. Advance America looks forward to working with the new leadership at the Bureau as they restore the CFPB to its mandate to protect consumers through evidence-based rulemaking, while ensuring that all Americans have access to credit when they need it."