Banking Committee Scheduled to Vote Tomorrow on Kraninger’s Nomination to BCFP

The Senate Banking Committee is scheduled to vote tomorrow on Kathy Kraninger’s nomination to be the next director of the Bureau of Consumer Financial Protection. If confirmed by the committee, which is widely expected to be what happens, Kraninger’s nomination will move to the entire Senate for confirmation. That vote will likely not happen before the Senate recesses next week.

A timeline on Kraninger’s confirmation vote before the full Senate has not been made public.

The Banking Committee is scheduled to vote on Kraninger’s confirmation even though she has not yet provided responses to 43 questions from Senate Democrats that were submitted following her confirmation hearing on July 19. Answers on those questions — like many of the questions that were asked of Kraninger during her confirmation hearing — are not expected before the committee votes on her nomination tomorrow.

Kraninger was nominated in June to be the next director of the BCFP, replacing Mick Mulvaney, who has been the agency’s acting director for the past eight months. Critics have pointed to Kraninger’s lack of consumer protection experience as a reason why she should not be confirmed, while her supporters have referenced her time as an associate director at the White House Office of Management & Budget, overseeing seven different cabinet agencies, as the type of management experience that is needed at the BCFP.


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