Banking & Credit

New CFPB Director Kraninger Must Step Up to Protect Americans from Harmful Financial Products and Illegal Practices

CFA Statement on Confirmation of Kathy Kraninger to Head CFPB

Washington D.C. In response to today’s U.S. Senate vote to confirm Kathy Kraninger as the new Director of the Consumer Financial Protection Bureau, Christopher Peterson, CFA’s Director of Financial Services and former senior adviser to CFPB’s director for four years ending in 2016 issued the following statement:

“After over a year of turmoil at this critical consumer protection agency, it is now time for Director Kraninger to focus on ensuring our country’s financial services are safe, fair, and transparent,” said Christopher Peterson, the Director of Financial Services at the Consumer Federation of America.

During the confirmation process consumer advocates have expressed skepticism over Director Kraninger’s lack of experience in financial services and consumer protection. “Director Kraninger has an opportunity to prove her sceptics wrong by setting a bold consumer protection agenda,” said Peterson. “We hope she seizes this vital opportunity.”

Contact: Christopher L. Peterson, 202-387-6121 x1020