Jamie Fulmer, senior vice president of public affairs at Advance America, issued the following statement regarding Consumer Financial Protection Bureau (CFPB) Director Richard Cordray's announcement that he will step down at the end of November:
"With Director Cordray's resignation, Advance America calls on the next director to restore the CFPB to its intended mission: to protect American consumers, preserve their ability to access credit, and level the financial services playing field. Under Director Cordray, the CFPB has exerted its unchecked authority, issuing pre-determined rules based on personal bias and political ideology, not evidence. No rule better illustrates the CFPB's dangerously flawed rulemaking than the recently finalized short-term, small-dollar lending rule, which strips away access to regulated credit for millions of Americans.
"Advance America looks forward to working with the new director to share our perspective on the financial marketplace and the experience and satisfaction of our customers, to ensure all Americans have access to credit when they need it most."