Having been unsuccessful in becoming governor of Ohio, former Consumer Financial Protection Bureau Richard Cordray appears to have resurfaced on the West Coast in connection with a high-ranking California state lawmaker.
Multiple social media posts from California Assemblymember Monique Limon show her pictured with Cordray having what she said was a “great conversation” with the previous leader of the CPFB “on the attacks against consumer protections.”
Limon is chair of the state assembly’s banking and finance committee. She already made two proposals within the committee with one titled, the Fair Access to Credit Act as well as another action that “would revise the definition of a broker to include anyone who is engaged in the business of performing specified acts in connection with loans made by a finance lender, including, among other things, transmitting confidential data about a prospective borrower to a finance lender with the expectation of compensation in connection with making a referral unless a specified exception applies.”
According to the biography on her website, Limon was elected to the assembly in November 2016. She is only the second woman ever to be chair of the chamber’s banking and finance committee.
“As only the second women in California history to serve in this role, I do not take the responsibility that comes with this position lightly,” she said in a news release from last May in connection with state regulation of personal loans.
Cordray announced in November 2017 that he would departing the CFPB after serving as its first director thanks to an appointment by President Obama. Cordray lost to Mike DeWine in the election to be Ohio’s governor a year later.
The meeting involving Limon and Cordray was first reported by American Banker.