Senate Banking Cmte approves Kraninger as BCFP director

August 23, 2018

The Senate Banking Committee voted 13-12 Thursday in favor of Kathy Kraninger’s nomination to become director of the Bureau of Consumer Financial Protection. Kraninger currently serves in the Office of Management and Budget.

“We appreciate the committee moving forward on the nomination of Ms. Kraninger, and we hope the Senate will act quickly to consider her nomination,” said CUNA President/CEO Jim Nussle. “Should Ms. Kraninger be confirmed, credit unions look forward to working with her as the  new permanent BCFP Director on ways to achieve regulatory relief to allow credit unions to better serve their 110 million members.”

CUNA wrote to the Senate Banking Committee prior to Kraninger’s testimony before the committee earlier this month.

Kraninger, a native of Ohio, has served at OMB, the U.S. Senate and the Department of Homeland Security. She was nominated by President Donald Trump in June to take the place of Acting Director Mick Mulvaney.