Senate committee narrowly confirms Kathy Kraninger to head CFPB
Kathy Kraninger is a step closer to becoming the nation’s top consumer financial watchdog: A Senate committee on Thursday narrowly approved the White House aide's nomination to lead the Consumer Financial Protection Bureau despite strenuous objections from Democrats that she’s not qualified for the job.
Opponents of President Trump’s nominee to head the Consumer Financial Protection Bureau said that she has no experience in consumer protection, financial regulation or the banking industry and questioned her involvement overseeing the budgets of agencies that developed and implemented the child-separation policy at the border and the response to Hurricane Maria in Puerto Rico. Democrats complained that Kraninger would not detail her role in those policies during her confirmation hearing or in written questions.
“She is refusing to describe her role in two very public management failures because she knows it would destroy her case for her nomination,” said Sen. Elizabeth Warren (D-Mass.).
But Republicans brushed off those concerns. All 13 of them voted to confirm Kraninger on Thursday, while all 12 Democrats opposed her nomination.
Senate Banking Committee Chairman Mike Crapo (R-Idaho) said Thursday that she had “significant leadership experience at federal agencies and on Capitol Hill.” He said her “her depth and diversity of public service experience” gave him “confidence she is well prepared to lead the bureau.”
Trump’s decision to tap Kraninger for the job leading the controversial agency, created in the aftermath of the 2008 financial crisis, was a surprise. She holds a mid-level White House position as associate director for general government at the Office of Management and Budget and her background has been largely in Homeland Security.
At the Office of Management and Budget, Kraninger oversees spending at five agencies, including the Department of Homeland Security.
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https://www.latimes.com/business/la-fi-cfpb-kraninger-vote-20180823-story.html