House Democrats in a letter have urged President-elect Donald Trump to reject calls to fire CFPB Director Richard Cordray, made in an earlier letter from Republican senators.
In their letter on Tuesday, signed by Rep. Maxine Waters, D-Calif. and 20 other Democrats on the House Financial Services Committee, the lawmakers cautioned the incoming president against “entering into a protracted – and likely unsuccessful – legal battle to oust” Cordray before his term expires in July 2018.
“Any attempts to remove Director Cordray from his position are without historical precedent, and intended solely to distract the director and the bureau from its important work protecting servicemembers, students and other borrowers from financial predation,” the letter states. “We caution you not to engage in partisan litigation, particularly since it is likely to be unsuccessful and will needlessly divert government resources away from other important priorities.”
Earlier Tuesday, Republican Sens. Mike Lee (Utah) and Ben Sasse (Nebraska) sent a letter to Mike Pence, the vice-president elect, urging Trump to “promptly after his inauguration” as president Jan. 20, fire CFPB Director Richard Cordray. The two made the request despite the on-going legal battle over whether the director may be fired before the end of his five-year term in 2018.
Letter from House Democrats to President-elect Trump on CFPB’s Cordray