According to news reports yesterday, Ohio Supreme Court Justice Bill O’Neill has told media sources that he was informed by an unnamed mutual friend that Director Corday plans to enter the 2018 Democratic primary for Ohio governor.

Judge O’Neill indicated that the mutual friend had called him to ask whether the Judge planned to abide by prior statements that he would not enter the race if Director Cordray decided to run.  Judge O’Neill stated that he did plan to abide by his prior statements.

There is also speculation that Director Cordray will announce his candidacy on September 4 at the Cincinnati AFL-CIO annual Labor Day picnic where he is a scheduled speaker.  Should Director Cordray resign in September, plenty of time will remain for a new Director to take a fresh look at the CFPB’s arbitration rule and move forward on the steps necessary to prevent the rule from becoming operational on March 19, 2018 as currently scheduled.