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Waters Statement on the Confirmation of Kathy Kraninger to Head the CFPB

Following the U.S. Senate confirmation of OMB Associate Director Kathy Kraninger to serve as Director of the Consumer Financial Protection Bureau (Consumer Bureau), Congresswoman Maxine Waters (D-CA), Ranking Member of the Committee on Financial Services, issued the following statement:

“The Consumer Financial Protection Bureau was specifically designed by Congress to be an independent watchdog for America’s consumers and I am committed to ensuring its statutorily mandated mission is not undermined. Mick Mulvaney took a series of actions to weaken the agency’s ability to carry out its important mission, while benefitting the predatory actors the agency is designed to police. He has done everything in his power to roll back consumer protections, strip the agency of its resources and compromise its independence. Now that Mulvaney is no longer at the helm, I call on Director Kraninger to put consumers first by rolling back the anti-consumer actions taken by her predecessor and allowing the Consumer Bureau to resume its work of protecting hardworking Americans from unfair, deceptive or abusive practices.”

Ranking Member Waters has consistently led efforts to protect America’s consumers. In October, she introduced H.R. 6972, the Consumers First Act, a bill to block the Trump Administration’s anti-consumer agenda and reverse efforts, led by Mick Mulvaney, Director of the Office of Management and Budget, to dismantle the Consumer Financial Protection Bureau from within. This legislation is co-sponsored by Rep. Carolyn Maloney (D-NY), Rep. William Lacy Clay (D-MO), Rep. Al Green (D-TX), Rep. Emanuel Cleaver (D-MO), and Rep. Gwen Moore (D-WI), senior members of the House Financial Services Committee


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