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Statement by CFPB Director Richard Cordray Regarding the Departure of Federal Trade Commission Chairman Jon Leibowitz

“The Consumer Financial Protection Bureau is grateful for Chairman Leibowitz’s dedication to protecting consumers. His stalwart leadership and commitment to teamwork have enabled a strong and enduring partnership between the CFPB and the Federal Trade Commission. Because of the direction he set, I am confident that we will continue to work closely with the FTC to achieve the greatest good for the greatest number. We all send warm wishes to Chairman Leibowitz for the best of luck in his future endeavors.”

The CFPB and the FTC share responsibilities for protecting Americans as they shop for consumer financial products and services. The Dodd-Frank Wall Street Reform and Consumer Protection Act, which created the CFPB, requires the CFPB and the FTC to work together to coordinate their enforcement activities and promote consistent regulatory treatment of consumer financial products and services.