The Senate Banking committee voted in favor of Kathy Kraninger to become the permanent director of the Bureau of Consumer Financial Protection (BCFP). Kraninger, who currently serves in the Office of Management and Budget, was nominated by President Donald Trump in June to take the place of Acting Director Mick Mulvaney.
Credit Union National Association (CUNA) looks forward to learning more about Kraninger's views on consumer protection regulation, supervision and enforcement.
“We appreciate the committee moving forward on the nomination of Ms. Kraninger, and we hope the Senate will act quickly to consider her nomination,” said CUNA President/CEO Jim Nussle. “Should Ms. Kraninger be confirmed, credit unions look forward to working with her as the new permanent BCFP Director on ways to achieve regulatory relief to allow credit unions to better serve their 110 million members.”
CUNA sent a letter to Senate Banking Committee leadership ahead of the BCFP director nomination hearing, supporting the nomination process and further urging Congress to support a bipartisan commission for the agency.