Former CFPB Director joins fervent anti-credit union group

Former Consumer Financial Protection Bureau Director Kathleen Kraninger has joined the advisory committee at Friends of Traditional Banking, a fervent anti-credit union super Political Action Committee.

Kraninger, who served as CFPB director during the Trump Administration and resigned when President Biden took office, was appointed CEO of the Florida Bankers Association last Fall. She joined the super PAC’s board after joining the Florida banking trade group.

Friends of Traditional Banking is not a traditional PAC. Instead, as a super PAC, it generally endorses two or three members of the House or Senate each election year and encourages bankers to contribute to the campaigns of those members. In 2022, the group endorsed three candidates. They were Sen. Ron Johnson, R-Wis. and Rep. Randy Feenstra, R-Iowa, who were running for reelection and Rep. Ted Budd, R-N.C., who was running for the Senate. All three candidates won. The group has not endorsed any candidates for 2024 yet.


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