WASHINGTON — U.S. Sen. Mark R. Warner (D-VA), a member of the Senate Banking Committee, released the following statement after the Senate voted to advance the nomination of Kathy Kraninger to head the Consumer Financial Protection Bureau (CFPB):
“Director Mulvaney has been a disaster for consumers as head of the Consumer Financial Protection Bureau. He has dramatically reduced enforcement against banks and other financial institutions, weakened the law that protects servicemembers and their families from predatory lending, and rendered the Office of Fair Lending and Equal Opportunity quite toothless, to name just a few examples.
“In her hearing before the Senate Banking Committee, Ms. Kraninger testified that she ‘cannot identify any action’ that Director Mulvaney ‘has taken with which I disagree.’ The CFPB is responsible for making sure that banks and big corporations can’t rip off American consumers. It should have a Director who shares that mission.”