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.
The vote was originally slated for Aug. 1, but was postponed by the committee’s chairman, Sen. Mike Crapo (R-ID), without explanation. Kraninger, who is currently associate director of the Office of Management and Budget (OMB), would take over the agency’s reins from Mick Mulvaney, the OMB director who has served as the CFPB’s acting director since late November.
Kraninger’s nomination has met with hostile backlash from Senate Democrats led by Sen. Elizabeth Warren (D-MA), who attempted to link Kraninger to the more controversial aspects of Trump Administration’s policies on illegal immigration.
Warren went so far as to issue a 14-page report titled “A Record of Failure” that berated Kraninger’s abilities and tried to lobby the U.S. Chamber of Commerce to drop its support of Kraninger’s candidacy.
The New York Federal Reserve Bank says Americans now hold more than $11 trillion in mortgage debt
As housing prices rose during the pandemic, U.S. homeowners saw their mortgage debt increase along with them, credit agency Experian reports.
Experian looked at how mortgage debt varies by state and how it's grown over time, specifically from 2017 to 2021. The analysis incl...
Alternative real estate financing company cut about 120 jobs.
Homeward, an Austin, Texas-based company offering alternative financing for real estate, laid off about 20% of its staff this week.
In a 1,330-word message titled "A Note From Our CEO" posted to the company’s website blog on Wednesday, Homeward Founder & CEO Tim Heyl s...