House Financial Services Chairman Jeb Hensarling (R-Texas) Tuesday called on President Trump to fire CFPB Director Richard Cordray as soon as possible.

“Personnel is policy,” Hensarling said in an interview on Fox Business. He said he believes Trump has the power to fire Cordray and urged the president to “move quickly.”

Hensarling is an outspoken critic of the agency and has proposed comprehensive financial services legislation that would curtail the CFPB’s powers.

On the Senate side, Sens. Ben Sasse (R-Neb.) and Mike Lee (R-Utah) have called on Trump to fire Cordray. Senate Banking Chairman Mike Crapo (R-Id.) has said Cordray should resign.

continue reading »