The head of the Consumer Financial Protection Bureau (CFPB), Richard Cordray, announced Wednesday that he will be stepping down at the end of the month, putting the agency’s future in jeopardy.

"I wanted to share with each of you directly what I have told the senior leadership in the past few days, which is that I expect to step down from my position here before the end of the month," Cordray wrote in an internal memo circulated Wednesday. "It has been the joy of my life to have the opportunity to serve our country as the first director of the Consumer Bureau by working alongside all of you here."

With the CFPB since its beginning in 2011, Cordray has gone toe to toe with the financial industry—taking action against banks for deceptive overdraft fee programs and against student loan companies for illegal service practices. Most notably, the CFPB levied a $185 million fine against Wells Fargo for the bank’s infamous practice of opening phony accounts last fall.

Overall, the CFPB's enforcement actions have resulted in about $12 billion in relief for victims of these unscrupulous practices.

The future direction of the agency and its rules depends on who is nominated to replace Cordray, says attorney Alan Kaplinsky, a partner with Consumer Financial Services Group at Ballard Spahr. President Donald Trump will likely move to immediately appoint an acting director of the CFPB, which Kaplinsky predicts will be Treasury Secretary Steven Mnuchin.

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