Richard Cordray Resigns as Head of Consumer Financial Protection Bureau

Richard Cordray announced his resignation on Wednesday as director of the Consumer Financial Protection Bureau, Bloomberg reported. He will leave the watchdog group at the end of the month, though his term was not set to expire until summer 2018. The CFPB was created under President Obama in response to 2008 financial crisis. Cordray's decision comes amid speculation that he will run for governor of Ohio as a Democrat.