Kraninger Vows to ‘Put Consumers First’ – NMP
Regulation and Compliance

Kraninger Vows to ‘Put Consumers First’

Dec 12, 2018
The Consumer Financial Protection Bureau has announced that it has taken measures to make it easier for consumers with urgent financial needs to obtain access to mortgage credit more quickly in the middle of the COVID-19 pandemic

Kathy Kraninger, the newly-confirmed Director of the Consumer Financial Protection Bureau (CFPB), used a press conference to reaffirm her commitment to pursuing the agency’s mission of working on behalf of the customers who use the nation’s financial services institutions.
Kathy Kraninger, the newly-confirmed Director of the Consumer Financial Protection Bureau (CFPB)
According to Associated Press coverage of the new Director’s press conference, Kraninger vowed, “We absolutely will put consumers first in the decisions that I will make.” She added that she would undertake an extensive review and consultation of the issues that come before adding that she wants to “understand why and how something was done before.”
 
Kraninger also stated there were “appropriate roles” for both career staff and political appointees at the CFPB, a clear rebuttal to arguments from critics of Mick Mulvaney, who ran the CFPB on an interim basis for the past year, that the agency had become politicized following the resignation of Richard Cordray as director in November 2017.
 
Kraninger was confirmed in a 50-49 vote in the Senate that went down along party lines. Even after her confirmation, her confirmation received denunciations from liberal political factions, most notably from Sen. Elizabeth Warren (D-MA), who took to Twitter minutes after Kraninger’s confirmation to insist the new Director “has no interest in fighting for American families” and accusing of her of being “on the side of cheating companies.”
 
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Phil Hall
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Dec 12, 2018
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