Kraninger Plans To Echo Mulvaney As CFPB Head

Trump’s new Consumer Financial Protection Bureau chief, Kathy Kraninger, said yesterday that she plans to run the agency like Mick Mulvaney did. That’s good news for bad actors and special interests, but bad news for consumers.


Kraninger plans to follow Mulvaney’s lead in how she runs the CFPB.


Reuters: “New U.S. consumer watchdog chief echoes Mulvaney as she lays out her plans”


Here’s a look at some of Mulvaney’s many disastrous policies at the CFPB:


  • Mulvaney’s CFPB tried to bury a report showing that Wells Fargo has been saddling college students with excessive fees.


  • Mulvaney’s CFPB made it harder for the the Military Lending Act to protect service members and their families from deceitful lending practices.


  • Mulvaney tried to hide the contents of a public database of complaints about banks, mortgage lenders and student-loan service providers.






  • Mulvaney’s CFPB suspended regulations to rein in predatory payday lenders and quietly dropped efforts to hold them accountable


  • In his first opportunity to request agency operating funds as interim CFPB director, Mulvaney requested no funding.