These U.S. Senators Will Vet CFPB Director Nominee

By Dan Kadlec

June 20, 2018

Chairman Crapo

U.S. senators that serve on the banking committee will vet Kathy Kraninger as part the nomination process for director of the Consumer Financial Protection Bureau. That puts them in a unique position to win concessions from the nominee looking for enough votes to be confirmed.

Kraninger is a protégé of acting director Mick Mulvaney, and as such she is likely on board with his efforts to curtail rulemaking and enforcement. But she might yield in the area of financial education if key senators signal that is something they support.

Here are the Republican senators on the banking committee: Chairman Mike Crapo, Idaho; Richard Shelby, Alabama; Bob Corker, Tennessee; Patrick Toomey, Pennsylvania; Dean Heller, Nevada; Tim Scott, South Carolina; Ben Sasse, Nebraska; Tom Cotton Arizona; Mike Rounds, South Dakota; David Perdue, Georgia; Thom Tillis, North Carolina; John Kennedy, Louisiana; Jerry Moran, Kansas.

Here are the Democrats: Ranking Member Sherrod Brown, Ohio; Jack Reed, Rhode Island; Robert Menendez, New Jersey; John Tester, Montana; Mark Warner, Virginia; Elizabeth Warren, Massachusetts; Heidi Heitkamp, North Dakota; Joe Donnelly, Indiana; Brian Schatz, Hawaii; Chris Van Hollen, Maryland; Catherine Cortez Masto, Nevada; Doug Jones, Alabama.

For more on Mulvaney’s CFPB:

Keep Financial Education! CFPB and Mulvaney Hear As Comment Period Nears End

Mulvaney Puts CFPB Financial Education Effort Under Review

How The new-Look CFPB Lost Its Way With Financial Literacy

Politics Threaten National Financial Literacy Agenda

Amid Crippling Inaction at State Level, Signs that Financial Education May Bubble Up

Posted in Policy & Government on June, 2018