Press Release: Consumers’ Research Comments on Kathy Kraninger Confirmation to Lead BCFP

FOR IMMEDIATE RELEASE

CONTACT: Steve Burke, (703) 683-5004, ext. 1108 or sburke@crcpublicrelations.com

Today, December 6, 2018, the Senate confirmed Kathleen Kraninger as the new permanent Director for the Bureau of Consumer Financial Protection. Following the 9/11 attacks, Ms. Kraninger was selected as a member of the original Department of Homeland Security leadership team. She has since held multiple leadership positions at federal agencies and as Congressional committee staff.

Beau Brunson, Consumers’ Research Senior Policy Adviser, released the following statement on her confirmation:

During her July hearing, Kathy Kraninger promised to focus the BCFP’s efforts on strengthening competition while stamping out fraud that harms consumer choice and competitive markets. As the now-confirmed bureau Director, she must put her two decades of administrative experience to work in bringing that vision to life.

Proper policy implementation requires proper management and a commitment to evidence-based practices. Consumers’ Research congratulates Ms. Kraninger and looks forward to working with her as the new BCFP Director.

The BCFP has been controversial since its creation under the Dodd-Frank Act. Its director is subject to minimal oversight from Congress and the President, as is its budget structure.

Consumers’ Research, founded in 1929, is the nation’s oldest consumer organization that seeks to increase the knowledge and understanding of issues, policies, products, and services of concern to consumers. For more information, visit: https://consumersresearch.org/ and follow Consumers’ Research on Twitter at @ConsumersFirst.

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