BREAKING: Senate Confirms Kraninger as Next Director of BCFP

Today, the Senate voted on and confirmed Kathy Kraninger as the next Director of the Bureau of Consumer Financial Protection (BCFP or Bureau). The vote was split 50-49.

President Donald Trump’s nomination of Kraninger for the top role at the Bureau was first announced back in June of this year. In July, Kraninger underwent a Senate confirmation hearing where she didn’t reveal much. Kraninger’s nomination was approved by the Senate Banking, Housing, and Urban Affairs Committee in August, sending the nomination to the full Senate for a vote. Earlier this month, Senate Majority Leader Mitch McConnell (R-KY) filed cloture for the vote on Kraninger to occur after Thanksgiving break and yesterday we found out that the vote would occur today.

Kraninger’s nomination faced criticism, particularly from Sen. Elizabeth Warren (D-MA) since it was first announced. Back in July, Sen. Warren released a reported entitled Record of Failure; Kathy Kraninger’s Disastrous Tenure at the Office of Management and Budget. Following Kraninger’s confirmation hearing, Sen. Warren submitted ten pages worth of questions for the record to Kraninger. On November 27, 2018, Sen. Warren submitted a letter to her fellow senators strongly urging them to vote against Kraninger’s nomination, in essence stating that Kraninger would continue the work of Acting Director Mick Mulvaney, which Sen. Warren strongly opposes.

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