The swamp is being drained. Richard Cordray, director of the Consumer Financial Protection Bureau, recently announced his plan to resign by the end of the month. Cordray is expected to run for governor in Ohio next year.

Good riddance. Since its inception in 2010, Cordray’s agency has grown into Washington’s most unaccountable regulator. The CFPB receives its funding as a fixed percentage of the Federal Reserve’s annual budget, exempting the agency from the normal appropriations process. If he hadn’t resigned, Cordray could only have left his post if he was fired by the president and for just cause — a nearly impossible task.