by Jeff Sovern Kate Berry in the American Banker is reporting that the nominee to run the CFPB, Kathy Kraninger "likely was deeply involved in President Trump's "zero-tolerance" immigration policy, according to former officials with the Office of Management and Budget and the Department of Homeland Security." Meanwhile, a WSJ editorial argues that Kraninger "has more […]
Verizon, AT&T and Sprint will no longer share customers' location information with several third-party companies who failed to handle the data appropriately, the Washington Post reports. The move follows an investigation by Sen. Ron Wyden (D-Ore.) into the commercial relationships between Verizon; a pair of obscure data vendors, LocationSmart and Zumigo; and those companies' corporate customers. "Wyden's investigation found […]
Is Kraninger's nomination really a ploy to extend Mulvaney's leadership of the Bureau? That's an issue discussed in Roll Call's article, Despite New CFPB Nominee, Mulvaney Could Be Around a Long Time. Excerpt: “I think there’s a strategy here that is steeped in the lore of federal appointments,” said Morrison & Foerster attorney Oliver Ireland. […]
The Wall Street Journal reports that, although bankruptcy judges have in the past refused to consider reducing student loans, some judges are now looking for ways to help people struggling to repay their debt. "Outright cancellations remain rare, but judges said they have other tools at their disposal, including encouraging lawyers to represent borrowers for […]
This article by Michele Lerner discusses the significant impact of a low credit score on the cost of credit (with a focus on home-mortgage credit). So, consumers should remove harmful (and false) information from their credit reports, which are shockingly inaccurate. The FTC says this about how consumers can dispute credit-report errors.
by Jeff Sovern We received the following transcript from Canadian intelligence services of White House deliberations between two unidentified people: A: Who should we pick to run the BCFP? B: Can't Mick just stay on? A: Not past this week. B: Too bad. He's done a great job. Wait until you see the bank campaign […]
by Jeff Sovern Various outlets are reporting that it will be Kraninger. At least one conservative objects to the appointment. Here is an except from the WSJ report: “The nominee is unqualified,” said J.W. Verret, a law professor at George Mason University and former chief economist for Rep. Jeb Hensarling, (R., Texas), head of the […]
You know that New York has sued Trump's Foundation, and Trump and his kids individually, alleging that the Foundation was little more than a checkbook for payments to not-for-profits from Mr. Trump or the Trump Organization. This resulted in multiple violations of state and federal law because payments were made using Foundation money regardless of […]
Following up on Jeff's post from yesterday, Ben White and Katy O'Donnell at Politico write that Mulvaney OMB associate said to be likely pick to head consumer bureau. Here is an excerpt: President Donald Trump is likely to pick Kathy Kraninger, who works under Mick Mulvaney at the White House budget office, as the next director of the Consumer […]
by Jeff Sovern Here. Four anonymous sources say she is Trump's leading choice. Will we hear a different name tomorrow? Excerpt: Kraninger, an associate director at OMB, previously worked for the Department of Homeland Security and the Senate Appropriations Committee. * * * The potential selection of Kraninger, which could be announced next week, is likely to […]