On Thursday, the Senate Banking Committee will convene at 10 a.m. ET to vote on the nomination of Kathy Kraninger as the new director of the Bureau of Consumer Financial Protection (BCFP). The committee's vote will decide whether Kraninger's nomination will move to the Senate for a vote to confirm her as the Director of the Bureau.
Kraninger, who is currently an Associate Director at the Office of Management and Budget (OMB) was nominated by President Trump in June. She faced a tough banking committee hearing in July. In a Q&A during the deliberations, members of the committee asked some difficult questions related to her role at the OMB as well as what one could expect from her if she was confirmed as the Director of BCFP. If confirmed as Director of the BCFP, Kraninger said that she would, “focus solely on serving the American people.”
During her testimony, Kraninger hinted at pursuing a similar path as the current Acting Director Mick Mulvaney. She said that she had four initial priorities for the Bureau if confirmed as Director The first priority she said would be to make the Bureau “fair and transparent.”
The vote on Thursday will decide if Kraninger can go ahead and pursue the priorities she's set for the Bureau if she becomes the Director.
Here's what else is in store in The Week Ahead:
- MBA Apps, Wednesday, 7 a.m. ET
- Existing Home Sales Report, Wednesday, 10 a.m. ET
- MReport Webinar on Millennial Homebuyers, Thursday, 2 p.m. CT
- FHFA Price Index, Thursday, 9 a.m. ET
- New Home Sales Report, Thursday, 10 a.m. ET
Read the details of Kraninger's nomination hearing at the Banking Committee: