Dems Demand Delay of Kraninger CFPB Confirmation Hearing – NMP Skip to main content

Dems Demand Delay of Kraninger CFPB Confirmation Hearing

Jul 18, 2018
The Senate Banking Committee has announced that its confirmation vote for Kathy Kranginer to become the next director of the Consumer Financial Protection Bureau (CFPB) has been rescheduled for Aug. 23

Democrat members of the Senate Banking Committee are demanding that Sen. Mike Crapo (R-ID), the chairman of the committee, postpone tomorrow’s confirmation hearing for Kathy Kraninger, President Trump’s nominee to become the next Director of the Consumer Financial Protection Bureau (CFPB).
 
In a private letter sent Tuesday night that was obtained and reprinted in The Hill, the committee’s Democrats claimed that the administration did not respond to their requests for documents and information regarding the role Kraninger may have played in formulating the policy on separating illegal immigrant families at the Texas border and arranging for assistance to Puerto Rico following Hurricane Maria. Kraninger is Program Associate Director for General Government Programs in the Office of Management and Budget (OMB), and two senators, Ohio’s Sherrod Brown and Massachusetts’ Elizabeth Warren, claimed that she manages seven executive branch agencies, including the Department of Homeland Security and the Department of Justice.
 
“If the Administration is unwilling or unable to provide responsive information in a timely manner, we respectfully ask that you postpone Thursday’s hearing on any nominee with outstanding information requests until such time as the information is available,” the Democrats wrote to Crapo.
 
A spokesperson for Crapo stated that the hearing is still scheduled for Thursday.

 
About the author
Published
Jul 18, 2018
CHLA Backs Bank Capital Proposal, Questions Impact On Mortgage Lending

Trade group supports lower mortgage risk weights but says broader market forces — not capital rules — drove banks' retreat from the market

Senate Passes 21st Century ROAD To Housing Act In 85-5 Vote

Sweeping housing package heads back to House after Senate clears final version with broad bipartisan support

MISMO Updates Business Glossary To Support AI, eMortgages

New definitions covering eHELOCs, remote online notarization, valuation modernization, and compliance initiatives aim to improve consistency

Underwriters Don’t Slow Down Loans. They Eliminate Uncertainty.

ndustry’s biggest bottleneck is not underwriting itself — it is the uncertainty that reaches underwriting too late in the process. When validation happens upstream, speed follows naturally.

MISMO Launches AI Governance Framework For Mortgage Lenders

New FRAME toolkit gives lenders, servicers, and technology providers a roadmap for managing AI risk while supporting innovation

CFPB Tells Lenders Immigration Status Can Factor Into ATR Analysis

CFPB frames immigration status as a potential ability-to-repay factor when future U.S.-based income is at risk