The House Financial Services Committee has updated its website to confirm that CFPB Director Kraninger is scheduled to appear at the Committee’s hearing tomorrow entitled “Putting Consumers First? A Semi-Annual Review of the Consumer Financial Protection Bureau.”
The update also indicates that Director Kraninger’s appearance will be followed by a panel consisting of the following individuals:
- Hilary Shelton, Director & Senior Vice President for Advocacy and Policy, National Association for the Advancement of Colored People
- Linda Jun, Senior Policy Counsel, Americans for Financial Reform
- Jennifer Davis, Government Relations Deputy Director, National Military Family Association
- Seth Frotman, Executive Director, Student Borrower Protection Center
- Scott Weltman, Managing Shareholder, Weltman, Weinberg & Reis Co., L.P.A.
In addition, the Committee’s majority staff issued a memorandum to Committee members about the hearing that indicates former Acting Director Mulvaney was invited to appear but failed to respond to the Committee’s requests. The memorandum includes a summary of the Bureau’s Spring 2018 and Fall 2018 Semi-Annual Reports that notes the “significant drop in enforcement actions” and that the Spring 2018 report “included only one instance of public enforcement action regarding fair lending” while the Fall 2018 report “reported no public fair lending enforcement actions during the covered April-September 2018 period, despite issuing a higher number of supervisory actions against institutions.” It also notes the Bureau’s reduced spending in 2018 as well as the reduction in its workforce.