CFPB Director Kathleen Kraninger set a new tone in her first six months on the job, almost immediately reverting to the agency’s original name and launching a listening tour of agency staff and consumer advocates.
When it comes to policy, however, Kraninger is largely following in the footsteps of her predecessor, acting director Mick Mulvaney.
She’s moved forward with a rewrite of a rule governing payday lending and backed away from enforcing an interest rate cap on loans to military servicemembers, moves favored by industry. Both were priorities of the agency’s first director, Richard Cordray.
“She’s neither Rich Cordray nor...