The CFPB has been without a Director for a year, following the resignation of Richard Cordray to pursue his unsuccessful bid to become Ohio’s governor
. Kraninger, who is Associate Director of the Office of Management and Budget (OMB) was confirmed in August by the Senate Banking Committee in a 13-12 vote along party lines.
The Senate is expected to vote on Kraninger’s confirmation during the next week. Mick Mulvaney, the OMB Director, has served as CFPB Acting Director since Cordray’s departure.