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The Week Ahead: Focus on BCFP Director Nom

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:

Kraninger: ‘Will Focus Solely on Serving the American People’

About Author: Radhika Ojha

Radhika Ojha, Online Editor at the Five Star Institute, is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Dallas, Texas. She can be reached at Radhika.Ojha@DSNews.com.
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