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Fri Dec 7, 2018, 10:19 AM

Kathleen Kraninger confirmed to head the Consumer Financial Protection Bureau

Source: ABC News

Kathleen Kraninger confirmed to head the Consumer Financial Protection Bureau

By ALLISON PECORIN Dec 6, 2018, 6:04 PM ET

Kathleen Kraninger was narrowly confirmed by the Senate to head the Consumer Financial Protection Bureau Thursday, putting an end to an ongoing debate about the leadership of the agency.

Kraninger, who served as the director for general government programs at the Office of Management and Budget, was confirmed by a 50-49 vote down party lines. Her critics fear her confirmation will lead to further unraveling of the bureau's power that began under current acting director Mick Mulvaney.

"Unfortunately Kathy Kraninger has no consumer protection or financial regulation experience so we are expecting her to simply follow Mick Mulvaney’s playbook," said Mike Litt, the consumer campaign director of US PIRG, a consumer financial watchdog group. "He has tried to defang and defund the bureau so future directors can't carry out its mission."

Mulvaney was serving simultaneously as the acting director of the Consumer Financial Protection Bureau and as the director of Office of Management and Budget since he was tapped for the position in a controversial move by President Donald Trump last year. Mulvaney had previously been a vocal opponent of the bureau's work.

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Read more: https://abcnews.go.com/Politics/kathleen-kraninger-confirmed-head-consumer-financial-protection-bureau/story?id=59662127

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