Capri Cafaro Says Richard Cordray “Not Particularly Well Liked”

Capri Cafaro gave Richard Cordray a swift kick to help him begin his gubernatorial general election campaign against Mike DeWine. The former Minority Leader of the Ohio Senate candidly announced in an interview that Cordray is “not particularly well liked.”

The Mahoning County Democrat was on “The Bill Press Show” to discuss the race when she rolled Cordray under the bus. She also reminded listeners that this is a rematch from the 2010 election when DeWine ousted Cordray from his role as Attorney General.

“Here’s a fun fact: Mike DeWine beat Rich Cordray when Rich Cordray was the sitting attorney general in 2010,” Cafaro said. “So, that’s a thing that makes me scratch my head, like, ‘Why are we signing up for this rematch?'”

WATCH:

OUCH! Cordray’s running mate, Betty Sutton, also has a reputation of not being liked. As a former constituent of hers, this is a gripe I heard often from both Democrats and Republicans. Perhaps is a match made in heaven – or hell.

H/T: Free Beacon

Blackwell Speaks Out About How Crony Richard Cordray Hurts College Graduates

We have been bracing for Richard Cordray to announce that he is running for Governor of Ohio. The head of the CFPB has been using the power of his position to apparently earn favor with liberal donors in preparation for a run.

Former Secretary of State Ken Blackwell has some comments below on how Cordray’s actions have harmed Ohioans and college students in particular.

Crony Cordray Hurts College Graduates

Ken Blackwell

There is no doubt about it. Richard Cordray, the far-left head of the Consumer Financial Protection Board (CFPB) wants to run for governor of Ohio. Speculation is growing that an official announcement could come at any moment.

I have no doubt that my fellow Ohioans will reject Obama-era holdover Cordray’s radical philosophy on Election Day, just like they did when he ran for Attorney General in 2010.

One might assume that a government agency with “consumer financial protection” in its name might actually protect consumers. Sadly, nothing could be further from the truth. Cordray’s agency, with more than a $600 million annual budget, has developed a lengthy track record of mismanagement, heavy-handed mandates, and outright corruption.

Cordray knows his time is limited, which is why he is desperate to use his rogue agency to garner political support from the political swamp for his future gubernatorial campaign.

In a stunningly brazen move, we are just learning of a secret deal Cordray made last month with hedge fund manager David Uderitz of Vantage Capital to manage student loan collections for the same delinquent student loans his firm owns through the National Collegiate Student Loan Trusts.

As too many students and parents are aware, more than 1.1 million students are in default on their school loans, and more 40% of student borrowers are not making any payments. This is a financial disaster that cannot be sustained.

Part of the trusts’ problem is many of their ownership details of loans are incomplete. But instead of this being fought out in court through a lengthy process with borrowers, Corday’s CFPB has agreed to give Udertiz’s firm full control over the collection process.

This is crony capitalism at its worse. This deal would allow a hedge-fund manager profit from the CFPB’s decision by circumventing the legal system. This hedge fund now has CFPB’s blessing to charge fees and administer a $21.6 million government settlement trust owed to students. And, as the fund owns some of those delinquent, they will be pocketing the remaining funds.

Why would Cordray and the CFPB intervene? The Ohio Republican Party recently filed a FIOA request to get answers. But there is no doubt that this move would not only give Cordray an empty campaign talking point about doing something on student loans, even though in reality he simply turned over student loan collections to a well-connected hedge fund.

Cordray and the CFPB have far exceeded their authority in this matter, and are only making things worse. This difficult situation for students and lenders should be settled in court, not by politically motivated bureaucrats who invent their own rules.

Obama is no longer in the White House, but his legacy of unconstitutional overreach and unchecked regulations lives on through the CFPB. President Donald Trump should have fired Rich Cordray and replaced him long ago.

Ken Blackwell served as the mayor of Cincinnati (1979–80), the Ohio State Treasurer (1994–99), and Ohio Secretary of State (1999–2007). He was the Republican candidate for Governor of Ohio in 2006. Most recently, he served as Domestic Policy Advisor to the Trump Presidential Transition Team.

 

Cordray Does Big Favors For Liberal Donors; Is Campaign Announcement Next?

Speculation continues to swirl that current director of the Consumer Financial Protection Bureau (CFPB) and former Ohio Attorney General Richard Cordray may wind up running for Governor. So far, President Trump doesn’t seem to have helped him along that path; early in Trump’s term, there was chatter that he’d fire Cordray, which would have immediately freed Cordray up to run and potentially given him a better platform for doing so, at least among Elizabeth Warren-idolizing, Trump-hating Democrats. Cordray remains in office, with his options left open. And he’s finding plenty of things to do in his current job that will help him a lot if he decides to take the step to run to succeed Gov. Kasich.

Case in point: Under Cordray, the CFPB just recently put on the books an “anti-arbitration rule” that pushes financial services companies away from arbitration and towards the regular court system. By virtue of that simple fact, it’s a huge boon to trial lawyers—a great fundraising base for a future Democratic gubernatorial candidate who could very well get in the race at the very last minute, and need immediate, big fundraising hauls as a result. Is that calculation behind Cordray’s action here? Or is he just another liberal who inherently views going to court as better than arbitration, per what he’s probably been hearing for years and years from his trial lawyer pals?

According to the House Financial Services Committee, “Even the CFPB’s own study shows that consumers who use arbitration actually gain more favorable outcomes than those who hire trial lawyers for class action lawsuits. The average payout for consumers in a class action is $32, while the average trial lawyer receives nearly $1 million. Making consumers pay more for less is the exact opposite of ‘consumer protection.’”

It appears that Cordray is using his position to bolster his financial base in a Democratic primary. The CFPB is expected to roll out new payday lending regulations any day now. This is red meat for the liberal Democratic base. It also would greatly appease Google who has invested heavily in personal lending services, LendUp and Lending Club. Appeasing Google by knocking its competitors out at the knees might give him political capital with the internet giant.

Talk show host Jerry Springer is also considering jumping into the Democratic primary. The former mayor of Cincinnati who wrote check to pay a prostitute, describes himself as a “populist, liberal progressive.” While his talk show and prostitute past might prove to be a liability to some voters in a general elections, Springer has immediate name ID for a Democratic primary.

If Cordray is to actually face Springer, he will need to shore up the Democratic base. This is likely why he is using the CFPB to his own political advantage.

Springer is planning to make an official decision in the next two weeks. Perhaps Cordray will follow.

Cordray, Alt, Delete: Didn’t this Ohio Dem Learn From Hillary’s Email Scandal?

It’s no secret that the Democrats’ bench in Ohio is on the light side going into the 2018 election cycle. Beyond Congressman Tim Ryan (a long shot due to his comfortable district) one of the only other big-name Democrats being discussed as a Gubernatorial candidate is Richard Cordray. In 2010 Cordray lost his re-election bid for Ohio Attorney General to Mike DeWine, after which he was appointed Director to the Consumer Financial Protection Bureau by President Obama. With 2018 fast approaching, its not surprising that Cordray’s name would be on the list: a weak bench in addition to his current tenuous position with a new Presidential Administration makes Cordray an attractive candidate.

How ironic it is that Cordray’s candidacy might end before it even begins due to problems oddly reminiscent of failed Presidential Candidate Hillary Clinton. The Daily Caller recently uncovered unusual facts about Cordray’s work devices. The usual fact being that, when a Freedom of Information Act request was submitted to the CFPB, no records of text messages for Richard Cordray were found to exist. Partial records were shown but only in communications received by CFPB employees from Cordray’s private number, while any records from Cordray’s number and device itself were not present. In a later communication the CFPB acknowledges that no records exists due to the fact that Cordray used a private device and did not turn over such communication records (as required by law).

Voters in Ohio already dealt with Hillary Clinton, a Democrat candidate who did not follow electronic record and security laws correctly. In a Politico Poll prior to the 2016 election 61% of respondents viewed Clinton’s handling of her email scandal as an important indicator of her character. In a similar situation, how will Ohioans view Cordray’s apparent similar lack of transparency and respect for public record laws?

While the Democrats are scrambling to find one legitimate Governor Candidate, the Republican field is already full. So far rumors hold Secretary of State Jon Husted, Lt Governor Mary Taylor, Attorney General Mike DeWine and Congressman Jim Renacci as exploring runs for the Governorship. Each of these candidates bring strong accomplishments, great name recognition, and fundraising abilities. Is Cordray the answer to stopping any of these candidates from running away with the election and allowing GOP domination of Ohio politics for another 4 years?

hillcordray

After Hillary Clinton’s humiliating defeat in Ohio, Democrats are contemplating running a similarly flawed candidate for Governor. Ohio Democrats: Meet the new boss, same as the old boss.