WASHINGTON, DC (June 18, 2018) — President Donald Trump is expected to nominate Kathy Kraninger, an official at the Office of Management and Budget, to lead the CFPB.
“NAFCU looks forward to the opportunity to work with Ms. Kraninger should she be confirmed as CFPB director,” said NAFCU President and CEO Dan Berger. “Although NAFCU consistently argues that credit unions should not be subject to the CFPB’s enforcement authority, we have had a strong working relationship with Acting Director [Mick] Mulvaney and appreciate him reviewing the bureau’s actions and bringing some regulatory relief to credit unions over the past few months. We plan to continue this relationship with Ms. Kraninger.”
Mulvaney has served as acting director at the bureau since November; he also serves as the director of the Office of Management and Budget. Mulvaney will continue to lead the CFPB until Kraninger is confirmed to the position by the Senate.
NAFCU will continue to advocate for five priorities that would lead to a healthy and appropriate regulatory environment for credit unions under a new CFPB director.
The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.
