The CFPB isn't going away, and if Romney is elected president there's a good chance the leadership structure will change in the long run. But in the short run, "Republicans have refused to confirm an agency head until reforms are made, a mantra that may make it awkward to send up their own nominee," writes American Banker's Kate Davidson.

Would Cordray bow out to let Romney make his own appointment? Many expect he "will ride out the last year of his recess appointment before running for higher office in his home state of Ohio," writes Davidson.

"If you're running for office and you want to be a foil against the administration, staying in and being a thorn in their side kind of works to your benefit," said Mark Calabria of the Cato Institute.

For the full piece see "What a Romney Victory Would Mean to the CFPB" (may require subscription).