Richard Cordray, director of the CFPB, has been cleared of allegations that he improperly positioned himself to run in Ohio's gubernatorial contest while leading the Obama-era agency, according to a newly disclosed letter from the government office that enforces restrictions on federal employees' political activity.

Cordray, a former Ohio attorney general and treasurer, has been pressed for months by rumors of his interest in the 2018 governor's race—a suspicion that has prompted speculation from critics about whether he violated the Hatch Act, a federal law that imposes restrictions on government employees for engaging in political activity.

Cordray has steadfastly remained mum about any plans to run for Ohio governor, inviting speculation that he will leave his post as CFPB director before his term expires in July 2018.

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C. Ryan Barber

C. Ryan Barber, based in Washington, covers government affairs and regulatory compliance. Contact him at [email protected]. On Twitter: @cryanbarber

Regulatory & Compliance