Recently, Richard Cordray was interviewed by CNBC while eating breakfast at a diner in his hometown in Ohio. The interview was more noteworthy for what it failed to cover than for what it covered. He was not asked the following questions:
- Do you still intend to issue a final arbitration rule and, if so, when will that happen? Are you worried about the possibility that if you do issue such a rule, it will be overridden by Congress under the Congressional Review Act?
- If President Trump tries to remove you for cause, will you fight the removal in court?
- Rumors are swirling that you intend to run for Governor in Ohio? Are the rumors true and, if so, when would you need to resign and begin your campaign?
- The PHH case may result in giving President Trump the right to remove you without cause. Do you regret taking the action that your agency took in light of the fact that it was contrary to the position that HUD took regarding the same RESPA issue?
- Does your agency still take the position that there is no statute of limitations when you prosecute an enforcement action before an Administrative Law Judge in the face of the DC Circuit panel’s decision holding that the same statute of limitations that applies in court applies in an administrative proceeding?
- Have you had discussions with anyone in the White House or part of the transition team and, if so, what message have they delivered to you?
- Have you met with Attorney General Sessions or any of his aides and, if so, do you expect that there will be any changes in the level of cooperation between your two agencies, particularly in fair lending cases?
- Why haven’t you selected a Deputy Director?
I, for one, learned more about what he likes eating for breakfast than the answers to the important questions that I posed and that our clients are asking me every day.