Seeing the head of the Consumer Financial Protection Bureau ousted in an ugly for-cause firing might be best, a House Republican reasoned Wednesday.
Such a case, Rep. Sean Duffy of Wisconsin hinted at an oversight hearing, would hurt bureau Director Richard Cordray’s prospects running for governor of Ohio as a Democrat, a long-rumored possibility.
“I think Democrats even in Ohio would be aghast at what’s happened at the CFPB,” Duffy told Cordray at a House Financial Services Committee hearing at which Republicans harshly criticized Cordray and the consumer agency.
During questioning, Duffy suggested to Cordray that it might be easier to simply resign rather than face being fired for cause.
If Cordray chooses to stay at the agency, Duffy said, “We’ll walk through the racism and sexism, we’ll walk through the intimidation and the retaliation, all the things that we did on our oversight committee and more.” He was referring to allegations that Republicans have aired at previous oversight hearings.
“I would prefer we do this publicly,” Duffy finished. “You have a rotting agency.”
The decision to try to fire Cordray would be President Trump’s, not congressional Republicans.
Committee Chairman Jeb Hensarling of Texas said at the outset of Wednesday’s hearing that he was surprised that Trump hadn’t taken that step and called on Trump to do so immediately.
Hensarling characterized the bureau as a “dagger aimed at the heart of our foundational principles.” He stated that “this tyranny must end and the people’s constitutional rights returned to them.”
House Republicans have long argued that the bureau, tasked with overseeing mortgages, credit cards, bank accounts and other financial products, is overly powerful and unaccountable to Congress. They are expected to try to advance legislation to change its structure.
Cordray, appointed by former President Barack Obama, has a term that runs into next year.
While Republicans have always exerted hostile oversight of Cordray’s leadership, Wednesday’s hearing featured some of the hottest rhetoric yet.
“Boy, they really hate you,” said Rep. Michael Capuano, a Massachusetts Democrat.
