Jan 22, 2021
Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger resigned Wednesday at the request of the newly sworn-in President Biden, clearing the way for his nominee to lead the powerful regulatory agency.
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Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger resigned Wednesday at the request of the newly sworn-in President Biden, clearing the way for his nominee to lead the powerful regulatory agency.
CFPB Director Kathy Kraninger Facing Unemployment In January
CFPB Director Kathy Kraninger Facing Unemployment In January
CFPB Director Kathy Kraninger Will Be Unemployed Thanks To Her Siding With Trump Over CFPB Director Appointments
It appears President-Elect Joe Biden is sending CFPB Director Kathy Kraninger to the unemployment office on January 20th. She can thank her allegiance to her boss President Trump and his legal team at the DOJ.
This due to a Supreme Court decision passed (and fought for) by…
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NEW YORK | Consumer financial watchdog abandons name change plan
NEW YORK | Consumer financial watchdog abandons name change plan
NEW YORK — The Consumer Financial Protection Bureau has decided to abandon a controversial renaming plan, in one of the first big decisions by its new permanent director.
The CFPB will no longer pursue renaming itself the “Bureau of Consumer Financial Protection,” a change that had been sought by Mick Mulvaney, President Trump’s acting director of the bureau. The decision was announced in an…
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National Association of Realtors® Applauds Senate Confirmation of Kathy Kraninger
National Association of Realtors® Applauds Senate Confirmation of Kathy Kraninger
WASHINGTON/ December 7, 2018 (STL.News)
This afternoon, the Senate voted to approve Kathleen Kraninger as the next Director at the Bureau of Consumer and Financial Protection. Kraninger will replace Acting Director Mick Mulvaney, who has led the bureau since November of 2017. Shannon McGahn, Senior Vice President of Government Affairs for the National Association of Realtors® issued the…
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Kathy Kraninger has already admitted she is unqualified for the role.
Rebekah Entralgo at ThinkProgress:
Kathy Kraninger, currently the associate director for general government programs at the Office of Management and Budget (OMB), has no background in financial regulation or consumer protection.
However, in Trump administration fashion, she is the nominee to run the Consumer Financial Protection Bureau (CFPB), a position she herself has admitted she is unqualified to hold, and one she may be granted regardless, if the Senate Committee on Banking, Housing, and Urban Affairs votes to confirm her on Thursday.
During a hearing with the committee in July, Kraninger deftly avoided answering any questions related to what she had accomplished at OMB, and was unable to say what her day-to-day operations might be if installed as CFPB head.
“I am trying to get an answer from you, and I just can’t. And this is maddening,” Sen. Brian Schatz (D-HI) said at one point during the three-hour long hearing.
Her lack of qualifications aside, Senate Democrats are also concerned about the role Kraninger played in the Trump administration’s “zero-tolerance” immigration policy, which led to the separation of nearly 3,000 families at the U.S. southern border earlier this summer.
[...]
What is known is that Kraninger communicated with officials from Immigration and Customs Enforcement (ICE) in the days leading up to the zero-tolerance policy announcement in April. Public records also show Kraninger’s assistant, Alexandra Marten, met with an executive from GEO Group, a private prison company that operates a collection of ICE-contracted detention facilities, many of which housed immigrant parents separated from their children at the border. Several of those facilities have dark histories abuse, sexual violence, neglect, and mismanagement.
The Senate Banking Committee will hold a vote on August 23 to determine whether Kraninger will become the next director of the CFPB. Currently, the position is being held in acting capacity by OMB Director Mick Mulvaney, a position he secured last November, following a disputed internal power-grab.
“Kathy Kraninger helped implement a policy to punish innocent young children – that is a moral stain that will follow her for the rest of her life."
#thewaronyou
WASHINGTON | Trump's pick to run consumer watchdog faces skeptical Senate
New Post has been published on https://is.gd/0OkuES
WASHINGTON | Trump's pick to run consumer watchdog faces skeptical Senate
WASHINGTON— Kathy Kraninger, President Donald Trump‘s nominee to take over the nation’s watchdog for banks, credit cards and payday lenders, made her public debut in front of the Senate Banking Committee on Thursday, where she is facing extremely hostile questioning from Senate Democrats.
President Trump nominated Kraninger on June 18 to replace Mick Mulvaney, Trump’s budget director, who has been acting director of the Consumer Financial Protection Bureau since late November.
Mulvaney has taken the bureau in a more business-friendly direction than his predecessor Richard Cordray, President Barack Obama’s director for the CFPB.
Before her nomination, Kraninger, 43, was a relatively unknown mid-level bureaucrat working inside the Office of Management and Budget, overseeing roughly $250 billion in federal government programs. Before that she was a Congressional staffer working on budget and appropriations bills.
Kraninger’s nomination has been somewhat controversial, since she has no experience in banking or financial services.
“Now (Mick Mulvaney) wants his protege to run the agency. She has no experience whatsoever in consumer protection,” said Sen.
Sherrod Brown, D-Ohio, who is the top Democrat on the committee. The White House and Republicans argue that Kraninger’s experience at the OMB, arranging programs for large government departments like Homeland Security and the Federal Reserve, makes her qualified as a manager for a large government bureau.
“Given her depth and diversity of public service experience, I have the utmost confidence that she is well-prepared to lead the Bureau in enforcing federal consumer financial laws and protecting consumers in the financial marketplace,” said Sen. Mike Crapo, R-Idaho, at the start of the hearing.
Thursday’s hearing is Kraninger’s first public appearance since her nomination. Her positions on various issues facing the CFPB — from the bureau’s regulations on payday loans to how aggressive she would be going after big banks for wrongdoing — are unknown.
Kraninger worked directly under Mulvaney, and is unlikely to take the bureau in a sharply different direction than he has done.
Kraninger’s prepared remarks called for the CFPB to be “fair and transparent” and to “empower consumers to make good choices and provide certainty for market participants” echo statements by Mulvaney, who believes the bureau’s power is too unrestrained.
One of Kraninger’s biggest critics since her nomination is Sen. Elizabeth Warren, D-Massachusetts, who has vocally opposed her nomination from the start. The CFPB is Warren’s brainchild — it was she who proposed such a bureau when she was a professor at Harvard University. Her questioning of Kraninger is likely to be the most dramatic of Thursday’s hearing.
Republicans hold a 51-seat majority in the Senate, and Kraninger’s confirmation does not require Democratic support in order to pass. It is not clear when the Senate will vote on Kraninger’s nomination.
Republican Senators are expected to slow walk her nomination through the chamber in order to give Mulvaney as much time as legally possible in his current role as acting director.
ByAssociated Press ____
WASHINGTON | Trump's pick to run consumer watchdog faces skeptical Senate
New Post has been published on https://is.gd/0OkuES
WASHINGTON | Trump's pick to run consumer watchdog faces skeptical Senate
WASHINGTON— Kathy Kraninger, President Donald Trump‘s nominee to take over the nation’s watchdog for banks, credit cards and payday lenders, made her public debut in front of the Senate Banking Committee on Thursday, where she is facing extremely hostile questioning from Senate Democrats.
President Trump nominated Kraninger on June 18 to replace Mick Mulvaney, Trump’s budget director, who has been acting director of the Consumer Financial Protection Bureau since late November.
Mulvaney has taken the bureau in a more business-friendly direction than his predecessor Richard Cordray, President Barack Obama’s director for the CFPB.
Before her nomination, Kraninger, 43, was a relatively unknown mid-level bureaucrat working inside the Office of Management and Budget, overseeing roughly $250 billion in federal government programs. Before that she was a Congressional staffer working on budget and appropriations bills.
Kraninger’s nomination has been somewhat controversial, since she has no experience in banking or financial services.
“Now (Mick Mulvaney) wants his protege to run the agency. She has no experience whatsoever in consumer protection,” said Sen.
Sherrod Brown, D-Ohio, who is the top Democrat on the committee. The White House and Republicans argue that Kraninger’s experience at the OMB, arranging programs for large government departments like Homeland Security and the Federal Reserve, makes her qualified as a manager for a large government bureau.
“Given her depth and diversity of public service experience, I have the utmost confidence that she is well-prepared to lead the Bureau in enforcing federal consumer financial laws and protecting consumers in the financial marketplace,” said Sen. Mike Crapo, R-Idaho, at the start of the hearing.
Thursday’s hearing is Kraninger’s first public appearance since her nomination. Her positions on various issues facing the CFPB — from the bureau’s regulations on payday loans to how aggressive she would be going after big banks for wrongdoing — are unknown.
Kraninger worked directly under Mulvaney, and is unlikely to take the bureau in a sharply different direction than he has done.
Kraninger’s prepared remarks called for the CFPB to be “fair and transparent” and to “empower consumers to make good choices and provide certainty for market participants” echo statements by Mulvaney, who believes the bureau’s power is too unrestrained.
One of Kraninger’s biggest critics since her nomination is Sen. Elizabeth Warren, D-Massachusetts, who has vocally opposed her nomination from the start. The CFPB is Warren’s brainchild — it was she who proposed such a bureau when she was a professor at Harvard University. Her questioning of Kraninger is likely to be the most dramatic of Thursday’s hearing.
Republicans hold a 51-seat majority in the Senate, and Kraninger’s confirmation does not require Democratic support in order to pass. It is not clear when the Senate will vote on Kraninger’s nomination.
Republican Senators are expected to slow walk her nomination through the chamber in order to give Mulvaney as much time as legally possible in his current role as acting director.
ByAssociated Press ____