On September 12, 2017, Director Cordray appeared as the keynote speaker at the Seventh Annual Ohio Land Bank Conference. Director Cordray’s appearance came on the heels of his speech at the Cincinnati AFL-CIO Labor Day Picnic where many speculated he would announce his campaign for Ohio governor. The Ohio Land Conference brings together governmental and corporate partners striving to re-purpose vacant and abandoned properties and revitalize struggling neighborhoods—a perfect landscape for the launch of a gubernatorial run. The Conference coincidentally fell on the same day as the first gubernatorial debate for Ohio Democrats. Despite this perfect setting and date, Director Cordray remained silent on the rumors of his political aspirations.
At the Ohio Land Bank Conference, Director Cordray’s remarks were retrospective. He reflected on the creation of the CFPB and touted certain milestones of the agency. Out of all of the industries touched by the CFPB, Cordray’s remarks focused on the mortgage industry and the foreclosure crisis. He did not break any news during his speech. Many have commented that Director Cordray’s remarks could have easily been used in a campaign speech. Indeed, he ended his speech with a quote from Theodore Roosevelt: “This country will not be a good place for any of us to live in unless we make it a good place for all of us to live in.”
Director Cordray’s term expires in July 2018. He is expected to announce his bid for governor of Ohio after the CFPB issues a final payday loan rule. In the interim, we will continue to monitor Director Cordray’s public appearances and remarks.