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In this March 26, 2015, file photo, Consumer Financial Protection Bureau Director Richard Cordray speaks during a panel discussion in Richmond, Va. (AP Photo/Steve Helber, File)

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Sen. Elizabeth Warren, D-Mass., left, talks with President Barack Obama following a statement with Richard Cordray, the new director of the Consumer Financial Protection Bureau, in the State Dining Room of the White House in Washington. (AP Photo/Susan Walsh, File)

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Elizabeth Warren, center, Special Asst. to the Treasury Secretary on the Consumer Financial Protection Bureau, speaks during a photo opportunity on the occasion of the anniversary of the Dodd-Frank Bill as Rep. John Garamendi, D-Calif., left, House Minority Whip Steny Hoyer, D-Md., 2nd left, House Minority Leader Nancy Pelosi, 2nd right, and Rep. Barney Frank, D-Mass. right, listen on Capitol Hill in Washington on Wednesday, July 20, 2011.(AP Photo/Harry Hamburg)

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Consumer Financial Protection Bureau Director Richard Cordray

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Consumer Financial Protection Bureau Director Richard Cordray

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Consumer Financial Protection Bureau Director Richard Cordray

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Consumer Financial Protection Bureau Director Richard Cordray

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Consumer Financial Protection Bureau logo

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Consumer Financial Protection Bureau logo

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**FILE** President Obama pauses in the State Dining Room of the White House on Jan. 24, 2013, as he announces that he will nominate Mary Joe White to lead the Security and Exchange Commission and re-nominate Richard Cordray to lead the Consumer Financial Protection Bureau, a role that he has held for the last year under a recess appointment. (Associated Press)

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**FILE** President Obama pauses in the State Dining Room of the White House on Jan. 24, 2013, as he announces that he will nominate Mary Joe White to lead the Security and Exchange Commission and re-nominate Richard Cordray to lead the Consumer Financial Protection Bureau, a role that he has held for the last year under a recess appointment. (Associated Press)

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The federal Consumer Financial Protection Bureau is trying to adopt a new rule that could put 70 percent of payday lenders out of business. (AP Photo/Ryan J. Foley)