by Jeff Sovern Here is a report by Kate Berry in the American Banker (behind paywall). A vote for her would be a vote for someone without experience in or any demonstrated knowledge of consumer law and for someone who professes to value transparency but who was not transparent during her confirmation hearings. UPDATE: Evan Weinberger […]
Category Archives: Consumer Financial Protection Bureau
by Jeff Sovern David Dayen has coined the phrase, the "Mulvaney Discount," to describe the tendency of CFPB Acting Director Mick Mulvaney to settle cases for less than the original amount. As Dayen and others have pointed out, Mulvaney's CFPB has been announcing more enforcement cases than it did in his first six months. That's […]
So Bloomberg reports (no link available). Kraninger has until July 31 to answer any questions senators submitted after the hearing, so if any such questions were submitted, and she takes the full time allotted, that won't leave much time to digest her answers. The Senate is expected to take a recess during the week of […]
by Jeff Sovern So reports Nancy Cook, in Politico. The adviser is not identified. Excerpt: Mulvaney also has received accolades for his slow dismantling of the former CFPB, a brainchild of Elizabeth Warren’s that was created by Democrats in the wake of the 2008 financial crisis and has long been a favorite target for Republicans. […]
by Jeff Sovern In her written testimony, and again in her oral testimony, Kathy Kraninger, the president's nominee to head the CFPB, promised to be transparent and accountable. But her testimony yesterday, in which she said giving her personal opinion was not appropriate, was anything but. Don't take my word for it; here's how one […]
by Jeff Sovern For years, Republicans have complained that they felt frustrated by the CFPB. During her confirmation hearing today, Kraninger got revenge on their behalf on Democrats by refusing to answer their questions. Here is an excerpt from Renae Merle's story in WaPo: Kathy Kraninger, President Trump’s nominee to lead the Consumer Financial Protection […]
Here, by Victoria Finkle (free content). Excerpt: Perhaps the biggest hurdle Kraninger will encounter is demonstrating a familiarity with the consumer protection laws she would be tasked with overseeing, given her lack of industry experience. Some in banking continue to speculate whether the White House tapped her for the post as a serious bid — […]
by Jeff Sovern Allied Progress has posted a list of ten questions for Kathy Kraninger at her confirmation hearing Thursday. The list includes many excellent questions, but I would love to see her also asked specific questions about consumer law because I am curious to see how much she knows about the laws she will interpret […]
Leandra English has announced that she is leaving the CFPB next week in light of the nomination of a new director. Her attorney, CL&P blogger Deepak Gupta, has said that he will intends to file papers next week "to bring the litigation to a close."