Twenty-three Democratic members of the House Financial Services Committee have sent a letter to Kathy Kraninger, the CFPB’s new Director, urging the Bureau to resume examining its supervised entities for compliance with the Military Lending Act (MLA). The Democrats signing the letter include Maxine Waters, currently the Ranking Member, who is expected to become Committee Chairman next month.… Continue Reading
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Kathy Kraninger’s first day as Director of the BCFP
By Alan S. Kaplinsky on
Posted in CFPB People, Regulatory and Enforcement
Today was Kathy Kraninger’s first day at the BCFP. According to her remarks at a press conference this afternoon, she spent most of her day meeting staff.
In answer to questions from the press, she made the following points:
- She has not yet decided which policies of Acting Director Mick Mulvaney she will change.
Senate confirms Kraninger as CFPB Director
By Barbara S. Mishkin on
Posted in CFPB General, Regulatory and Enforcement
This afternoon, by a vote of 50-49, the Senate confirmed Kathy Kraninger as CFPB Director.
Pursuant to the Dodd-Frank Act, the CFPB Director has a five-year term. The approximate 12 months during which Mick Mulvaney has served as Acting Director since former Director Cordray’s resignation last November does not count against Ms.… Continue Reading
Kraninger Nomination Advances in Senate
By Alan S. Kaplinsky on
Posted in CFPB People, Regulatory and Enforcement
This afternoon the Senate voted 50 – 49 to invoke cloture and proceed to debate and a final vote on the nomination of Kathy Kraninger to be the next Director of the Bureau of Consumer Financial Protection (“BCFP”). The vote was along strict party lines, with Senator James Inhofe (R-OK) not voting. … Continue Reading
Cloture filed on Kraninger nomination
By Barbara S. Mishkin on
Posted in CFPB People, Regulatory and Enforcement
Politico has reported that Senate Majority Leader Mitch McConnell filed cloture this afternoon on President Trump’s nomination of Kathy Kraninger to serve as CFPB Director. The filing means that the full Senate will vote on the nomination once it returns after Thanksgiving, although the date of a vote remains uncertain.
Trade Groups Support Confirmation of Kraninger as CFPB Director
By Richard J. Andreano, Jr. on
A number of housing and financial industry trade groups, including the Mortgage Bankers Association and Real Estate Services Providers Council, Inc. (RESPRO®), recently sent a letter to Senators Mitch McConnell (R-KY) and Charles E. Schumer (D-NY) supporting the confirmation of Kathleen Kraninger as CFPB Director.
The trade groups state that Ms.… Continue Reading
Senate Banking Committee approves Kraninger nomination
By Barbara S. Mishkin on
Posted in CFPB People, Regulatory and Enforcement
By a 13 to 12 party-line vote today, the Senate Banking Committee approved President Trump’s nomination of Kathy Kraninger to serve as CFPB Director.
When the full Senate will consider her nomination and whether it will be approved remains uncertain. We continue to believe that the full Senate is unlikely to consider her nomination before the mid-term elections.… Continue Reading
Senate Banking Committee schedules August 23 vote on Kraninger nomination
By Barbara S. Mishkin on
Posted in CFPB People, Regulatory and Enforcement
According to media sources, the Senate Banking Committee has rescheduled a vote on President Trump’s nomination of Kathy Kraninger to serve as CFPB Director for August 23.
There is little doubt that the Committee will approve Ms. Kraninger. It remains unclear, however, whether and when the full Senate will consider her nomination. … Continue Reading
Senate Banking Committee Postpones Vote to Confirm Kraninger
By Alan S. Kaplinsky on
Posted in CFPB People, Regulatory and Enforcement
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.… Continue Reading
Senate Banking Committee holds hearing on Kraninger nomination
By Barbara S. Mishkin on
Posted in CFPB General, Regulatory and Enforcement
This morning, the Senate Banking Committee held a hearing on President Trump’s nomination of Kathy Kraninger to serve as CFPB Director. Although the hearing also included the President’s nomination of Kimberly Reed to serve as President of the Export-Import Bank, most of the questioning was directed to Ms. Kraninger.
Ms. Kraninger currently serves as Program Associate Director for General Government Programs at OMB. … Continue Reading