The former acting director of the consumer financial protection bureau, John (“Mick”) Mulvaney, commended Kathleen (“Kathy”) Kraninger’s confirmation to a five-year term as bureau director in a statement posted online and dated Tuesday.
Kraninger was confirmed as director of the Bureau of Consumer Financial Protection (BCFP, formerly known as CFPB) Thursday, Dec. 6, on a vote of 50-49. She was sworn into the post Monday, with Vice President Mike Pence officiating, and held a press conference in her bureau offices Tuesday. (Read about it here.)
“I commend the U.S. Senate for confirming Kathy Kraninger as the next director of the Bureau of Consumer Financial Protection,” begins Mulvaney’s statement. “Next week begins a new chapter of service in Kathy’s career. The American consumer and our economy’s financial sector will benefit from her commitment, expertise, and professionalism.”
Mulvaney called the previous year “an important step in the history of the Bureau as we take our place among the most notable regulatory bodies of our country—and frankly the world.” He continued, “Like all transitions, it was not always as smooth as we would’ve all liked, but the Bureau has emerged stronger for it.”
During Tuesday’s press conference, Kraninger fielded questions regarding staffing, the bureau’s budget, her desire for a good relationship with Congress, the bureau’s focus on consumers, enforcement, and more.