This story appeared in Bank Digest.
The Senate Banking Committee held a full committee hearing on July 19, 2018, to consider the nomination of Kathleen Kraninger to be director of the Consumer Financial Protection Bureau. In her prepared opening statement, Kraninger said, "Under my stewardship, the Bureau will take aggressive action against bad actors who break the rules by engaging in fraud and other illegal activity."
Committee Chair Mike Crapo (R-Idaho), in his opening statement, rejected a request by Senate Democrats to delay the hearing until requested documents were delivered by saying the documents pertain to "extraneous Administration policies that the requesters do not like, and go far beyond the practice of this committee's document production." Crapo also expressed his confidence that Kraninger is "well-prepared to lead the Bureau in enforcing federal consumer financial laws and protecting consumers in the financial marketplace."
But in his opening statement, Committee Ranking Member Sherrod Brown (D-Ohio) said, "Kraninger has no experience whatsoever in consumer protection." Referring to Puerto Rico hurricane relief, U.S. housing policy, and recent immigration policy decisions, Brown said that, as Associate Director at the Office of Management and Budget, Kraninger "has been involved in the management of one disastrous policy after another."