STATEMENT: CAP Experts Decry ‘Shameful’ Confirmation of Kathy Kraninger to Serve as Next CFPB Director

Washington, D.C. — Today, the U.S. Senate voted to confirm the nomination of Kathy Kraninger to serve as the next director of the Consumer Financial Protection Bureau (CFPB). Gregg Gelzinis, research associate for Economic Policy at the Center for American Progress, released the following statement:

The CFPB was created to fight for consumers, but Acting Director Mick Mulvaney has abandoned that vital mission. From day one, he has served the needs of financial institutions at the expense of consumers. Kathy Kraninger, a deputy to Mulvaney at the Office of Management and Budget who has no experience in financial services or consumer protection, was nominated to continue his dangerous policies. There’s every indication that, like Mulvaney, she will look the other way as the financial sector continues to rip off consumers without any fear of repercussion.

Tom Jawetz, vice president of Immigration Policy at CAP, added:

It is beyond shameful that the U.S. Senate would confirm—to any position—an individual who played a central role in the separation of thousands of children from their parents at the U.S. southern border. More than 100 days after the administration was required to reunite every separated family, children remain apart from their parents. In addition to the abject cruelty of the policy itself, the careless execution of the policy across government agencies that were overseen by Kathy Kraninger will prevent us from ever having a full and accurate accounting of all of the children taken from their parents—some, perhaps, separated permanently. Kathy Kraninger’s confirmation represents a dereliction of duty by the U.S. Senate and those who voted in favor of her nomination should be ashamed.

For more information or to speak with an expert, contact Allison Preiss at apreiss@americanprogress.org or 202-478-6331.