White House Chooses Permanent Head of Consumer Financial Protection Bureau
The White House Saturday, June 16, confirmed its intention to nominate Kathy Kraninger to become the director of the Consumer Financial Protection Bureau (CFPB). The impending nomination was first reported in the media on Friday and later confirmed by the Trump Administration on Saturday.
Kraninger currently serves as an associate director in the Office of Management and Budget (OMB), where she contributes to drafting the budgets of cabinet departments and government agencies. Prior to joining the Trump Administration, Kraninger worked as an aide on the Senate Appropriations Subcommittee on Homeland Security.
In her position at OMB, Kraninger works directly under Mick Mulvaney, who has been running CFPB in an acting capacity in addition to his role at OMB since the previous director, Richard Cordray, stepped down last November. Under federal statute, Mulvaney’s temporary term as acting director of CFPB is set to expire on June 22 should the President fail to nominate a director. He will, however, be eligible to continue serving as acting director after Kraninger is nominated, until she is confirmed.
It is not yet clear when the White House will officially send Kraninger’s nomination to the full Senate for consideration.