So much for my speculation that Raj Date would succeed Richard Cordray as CFPB Acting Director should Mr. Cordray leave the Bureau next year to run for Ohio governor as expected by many pundits. Bloomberg has reported that a CFPB spokeswoman confirmed that Mr. Date, who currently serves as CFPB Deputy Director, plans to leave the CFPB on January 31, after the mortgage rules mandated by Dodd-Frank are finalized.
Mr. Date’s departure would be a significant loss for the CFPB. He was instrumental in standing up the CFPB, having run the Bureau following Elizabeth Warren’s departure until Mr. Cordray was appointed. There appears to be no clear successor to Mr. Date.