CFPB Director Richard Cordray last week informed bureau staff that he is resigning. He made no mention of his future plans, but it has been widely expected for months, if not years, that he would run for governor of Ohio. Cordray is the first officially named and confirmed director of the bureau, but he encountered controversy from the start, as President Obama tried to make him a recess appointment, which was later declared to be an unconstitutional move on Obama’s part. However, the Democrat-controlled Senate at the time reaffirmed the president’s selection of Cordray, rendering various legal challenges moot. He was preceded at the helm by Raj Date, who served as a special advisor after being chosen by then-Harvard professor ...