Senate committee narrowly confirms Trump’s CFPB nominee

by Ryan Smith23 Aug 2018

The Senate Banking Committee on Thursday narrowly confirmed President Donald Trump’s nominee to head the Consumer Financial Protection Bureau.

All 13 Republicans on the committee voted to confirm Kathy Kraninger to head the CFPB, while all 12 Democrats voted against her confirmation, according to a Chicago Tribune report.

Democrats objected strenuously to Kraninger’s nomination, saying she was unqualified for the job. Democrats pointed out that Kraninger had no experience in consumer protection, financial regulation or the banking industry. They also complained that she wouldn’t explain her role in developing the policies that resulted in families being separated at the border and the administration’s botched response to Hurricane Maria in Puerto Rico.

“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.).

However, committee Chairman Mike Crapo (R-Idaho) said Thursday that Kraninger had “significant leadership experience at federal agencies and on Capitol Hill.” Crapo said that Kraninger’s “depth and diversity of public service experience” made him confident in her ability to lead the CFPB, the Tribune reported.

Kraninger currently serves as associate director for general government at the White House’s Office of Management and Budget. She works under Mick Mulvaney, OMB director and currently acting director of the CFPB.

Kraninger’s nomination must now be confirmed by the full Senate.