Banking Law News

Senate Confirms Kraninger to Lead Consumer Finance Bureau

Dec. 6, 2018, 7:23 PM

The Consumer Financial Protection Bureau has a new director after the Senate Dec. 6 confirmed Kathleen Kraninger for the position in a party-line vote.

Kraninger, who previously served as a top official in the Office of Management and Budget, will take over for acting CFPB Director Mick Mulvaney to lead the federal consumer finance watchdog. The Senate voted 50-49 to confirm Kraninger.

“Next week begins a new chapter of service in Kathy’s career. The American consumer and our economy’s financial sector will benefit from her commitment, expertise, and professionalism,” Mulvaney said in a statement.

Kraninger, who has never before worked...

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