California Reinvestment Coalition

Confirmation of Kathy Kraninger for CFPB Director More of the Same from Pro-Wall Street Trump Administration

Published August 23, 2018 17:37

Senate Banking Committee Confirms Anti-Consumer Nominee; Putting Working Families in Harm’s Way; Nomination Heads to Full Senate

Kathy Kraninger has indicated that she intends to continue Mick Mulvaney’s anti-consumer pro-Wall Street policies. Under Mulvaney’s watch, the CFPB has moved steadily away from its mission, dropping crucial cases against companies with abusive predatory practices. The American public needs to be deeply concerned about the effects of a weakened CFPB that cannot stand on the side of American families. 

“The Trump administration has made it its mission to advance the policies of Wall Street at the expense of hard working families,” said Paulina Gonzalez, Executive Director of the California Reinvestment Coalition. “Kathy Kraninger, like Mick Mulvaney, epitomizes the realization of this agenda. The head of the CFPB needs to be someone willing to fight against predatory payday lenders, bad bank behavior, and lending discrimination. A vote for Kraninger is a vote for Wall Street. ” 

The Republican senators who voted to confirm Kraninger and disregarded the importance of a strong CFPB are Mike Crapo, Richard Shelby, Bob Corker, Patrick Toomey, Dean Heller, Tim Scott, Ben Sasse, Tom Cotton, Mike Rounds, David Perdue, Thom Tillis, John Kennedy, and Jerry Moran.

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CRC has a membership of over 300 nonprofit organizations and public agencies across the State.