Time for today’s installment in the ongoing saga atop the Bureau of Consumer Financial Protection.
Speaking at a financial services technology conference in New York yesterday, Mick Mulvaney, the acting director of the BCFP had an interesting insight when he said that “anybody has to be better than me” at running the agency.
During his remarks, Mulvaney noted that if Kathy Kraninger is confirmed by the Senate to become the next permanent director of the BCFP that it would mark the first time the agency has gone through a transition process, which is an important step in the growth process for any federal agency.
“We are still Elizabeth Warren’s baby,” Mulvaney said at the Future of Fintech conference. “Until we break that we will never be considered a gold-standard institution.”
Kraninger met with Sen. Mitch McConnell [R-Ky.], the Senate Majority Leader, yesterday.
Today, I met with Kathy Kraninger, @POTUS’ nominee to direct the @CFPB. Her resume and reputation suggest she’s well-suited to steer the course @MickMulvaneyOMB has charted toward transparency, accountability, and effectiveness within proper limits. https://t.co/N4KcO1amZF
— Leader McConnell (@LeaderMcConnell) June 20, 2018
“Those who’ve worked with Ms. Kraninger in the executive branch, here on Capitol Hill, or most recently at the Office of Management and Budget praise her expertise, leadership, and approach to public service,” Sen. McConnell said in a statement Wednesday after his meeting. “I look forward to supporting her nomination.”
Meanwhile, the White House expects all 51 Senate Republicans to vote for Kraninger when her nomination is put to the floor for confirmation, according to a published report. The report also cited an expectation from the White House that a Democrat – Sen. Elizabeth Warren [D-Mass.], as it turns out – would attempt to block the nomination by putting a hold on it. The Senate can remove the hold via a cloture vote.
Others who came out in favor of Kraninger’s nomination yesterday included the U.S. Chamber of Commerce’s Center for Capital Markets and the Heritage Foundation’s political arm, Heritage Action.
Excited to see President Trump nominate a pro-growth candidate like Kathy Kraninger as the next director of the CFPB. No doubt she will continue to clean up the mess of the Bureau and restore accountability. https://t.co/UpIX7CAN9P
— Heritage Action (@Heritage_Action) June 18, 2018