Earlier this week, we blogged about reports that Director Cordray has no plans to leave the CFPB before his term expires in July 2018.  Yesterday, several national civil rights groups issued a joint statement applauding the CFPB’s work and expressing support for Director Cordray “as he continues to lead the CFPB in the fourth year of his five-year tenure.”  The groups are the Leadership Conference on Civil and Human Rights, NAACP, National Council of La Raza, and National Urban League.

In their statement, the groups express their view that under Director Cordray’s leadership, the CFPB “has significantly improved the lives of people across the country, especially in our diverse communities” and warn that “any effort to weaken the agency or undermine its leadership would risk severe impacts on our communities—including communities of color and low-income families who are most vulnerable to financial abuse.”  The groups tout the CFPB’s recovery of “more than $11 billion for 27 million consumers harmed by illegal, predatory financial schemes” and the CFPB’s efforts to fight “against discriminatory practices in the financial marketplace, including bringing enforcement actions to enforce fair lending laws that protect consumers of color from being charged more for a mortgage, auto loan, or credit card.”