As we previously reported, Kathy Kraninger, President Trump’s nominee to become the next CFPB Director, testified at a hearing of the Senate Banking Committee on July 19.  Following the hearing, Democrats on the committee sent her a list of questions relating to her involvement in the development of President Trump’s “zero tolerance” immigration policy and how she would manage the Bureau.

Ms. Kraninger recently sent responses to the follow-up questions in which she denied being involved in the development of the “zero tolerance” policy and largely deflected questions related to how she would run the Bureau.  Perhaps the most illuminating answer she gave is one indicating that she agreed with the changes made by Acting Director Mulvaney in managing the Bureau.

I anticipate that the Senate Banking Committee will vote to confirm her nomination.  The timing of that vote is very unclear.  The vote was scheduled to take place today, but was postponed when Senator McConnell announced that the Senate would be in recess beginning today until August 13. It remains unclear whether and when the full Senate will consider her nomination. I still believe that it is unlikely that the full Senate will consider her nomination before the mid-term elections.