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GROSSLY UNQUALIFIED, ANTI-CONSUMER NEW CFPB DIRECTOR KRANINGER CONFIRMED

FOR IMMEDIATE RELEASE
Thursday, December 6, 2018
Contact: Nick Jacobs, 202-618-6430 or njacobs@bettermarkets.com

Washington, D.C. – Better Markets’ President and CEO, Dennis Kelleher, issued the following statement regarding the vote to confirm Kathy Kraninger as the next director of the Consumer Financial Protection Bureau (CFPB):

“Reflecting the Trump administration’s anti-consumer, pro-predator ideology, Republican Senators today confirmed a grossly unqualified person to be the Director of the Consumer Financial Protection Bureau (CFPB).  In her confirmation testimony before the Senate Banking Committee, Ms. Kraninger demonstrated a disqualifying lack of experience or qualifications for leading the consumer protection bureau and an inexcusable lack of genuine commitment to protecting consumers.

“Although Trump’s acting director Mulvaney has a brazen record of flagrant anti-consumer actions and appears intent on transforming the Consumer Financial Protection Bureau into the Financial Predator Protection Bureau, Ms. Kraninger testified that she could not think of a single instance where she would disagree with any of the many anti-consumer decisions he has made.  Her entire testimony should have been an embarrassment to anyone even minimally interested in consumer protection or upholding the law.

“Hardworking Americans deserve to be protected from financial predators and scammers, but the Trump administration has dedicated itself to helping those crooks rip off Main Street.  Better Markets will be watching Director Kraninger’s actions closely and will continue to fight the Trump administration’s despicable pro-predator policies.”

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Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies – including many in finance – to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.com.

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