Rep. Jeb Hensarling on Friday continued the drumbeat of Republican attacks on the head of the Consumer Financial Protection Bureau, this time saying Richard Cordray should resign if he will not commit to serving his full term.

“If Director Cordray wishes to issue midnight rules, to hire or adjust the status of CFPB employees, to obligate CFPB funds, or to accelerate agency investigations, he should first commit to serving his full term," Hensarling said in a press release. "If he will not do so, the honorable course of action would be to resign and leave such decisions to his successor.”

GOP leaders have appeared increasingly focused on removing Cordray from office, for example lending support to plaintiffs in a legal battle over whether President Trump can remove the CFPB director before the end of his term in July 2018.

Rep. Jeb Hensarling, R-Texas, with Rep. Ann Wagner, R-Mo.
If CFPB Director Richard Cordray will not commit to serving out his term, "the honorable course of action would be to resign and leave [agency] decisions to his successor,” said Rep. Jeb Hensarling, R-Texas. Bloomberg News

But Hensarling's latest criticism seemed aimed at questions about whether Cordray might leave of his own volition. Cordray is widely thought to be considering a run for governor of Ohio, which would require that he leave office early to meet a February 2018 filing deadline.

In March, Hensarling asked Cordray if he planned to serve a full term and if not, when he expected to leave office.

Cordray "avowed that he had ‘no insights to give,’ even though it is widely reported that he is considering a run for the Democrat nomination for Ohio Governor," the Texas Republican said in the press release.

Hensarling has repeatedly expressed frustration at Republicans' inability to remove Cordray from office and stop new consumer regulations from being finalized.

In the past week, the CFPB finalized its long-anticipated arbitration rule, first proposed in 2016, and an update to its 2013 “Know Before You Owe” mortgage disclosure rule. The bureau also proposed changes to the home equity line of credit reporting requirements under its 2015 Home Mortgage Disclosure Act rule, and has picked a new advisory board.

The CFPB declined to comment about Hensarling's statement Friday.

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Kate Berry

Kate Berry

Kate Berry covers the Consumer Financial Protection Bureau for American Banker.