Senate confirms Kraninger as bureau director

The Senate yesterday voted to confirm Kathy Kraninger to lead the Bureau of Consumer Financial Protection. She will take over for Mick Mulvaney, who has served as acting director since November 2017. NAFCU President and CEO Dan Berger reached out to Kraninger following the vote to congratulate her on the confirmation.

The Senate voted 50-49 to confirm Kraninger; she will serve as director for five years.

“NAFCU is consistently engaged with the bureau on issues critical to the credit union industry and we look forward to working with Director Kraninger to ensure a healthy regulatory environment in which credit unions can grow, thrive and successfully serve their membership,” said Berger.

“Additionally, we will continue to advocate for a tailoring of regulation at the bureau to reign in unscrupulous behavior by Wall Street banks and bad marketplace actors while exempting credit unions from burdensome regulations that will simultaneously raise costs on their members.”


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