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Michigan Credit Union League

Kraninger Confirmed as Director of the Bureau for Consumer Financial Protection

On Dec. 6, the U.S. Senate confirmed Kathy Kraninger as permanent director of the Bureau of Consumer Financial Protection (BCFP). Kraninger, who served in the Office of Management and Budget, was nominated by President Donald Trump in June to take the place of Acting Director Mick Mulvaney.  

The Credit Union National Association (CUNA) and the Michigan Credit Union League (MCUL) look forward to working with Kraninger on consumer protection regulation, supervision and enforcement.  

“We’re pleased to have a new permanent director leading the BCFP, as credit unions and other parts of the financial services marketplace need stability at the bureau,” said CUNA President/CEO Jim Nussle. “We look forward to working with Ms. Kraninger and her staff on ways to help credit unions serve members better.”

CUNA sent a letter to Kraninger shortly after the was officially confirmed, highlighting key consumer priorities for credit unions, and offering any necessary feedback, data and expertise that might assist her as she takes the helm of the bureau.  

CUNA created a comprehensive white paper with numerous specific ways the bureau can provide credit unions with regulatory relief, and submitted it in response to a series of bureau requests for information on how it performs its functions.

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2018-12-07 00:00:00