Woodstock Institute Statement on Kathy Kraninger
Senate Banking Committee Hearing
FOR IMMEDIATE RELEASE: July 18, 2018
Chicago, IL – Kathy Kraninger, President Donald Trump’s nominee for Director of the Consumer Financial Protection Bureau (Consumer Bureau), will testify tomorrow morning before the Senate Banking Committee on her appointment. Consumer advocates oppose her confirmation.
“The basic requirement for a director of a national consumer protection agency is that he or she have experience and expertise in consumer protection. Kathy Kraninger has neither and no reasonable person could think otherwise. Hopefully, the Senators’ questioning will make this fact clear and shed light on the rationale behind appointing a person so patently ill-suited to the job,” said Brent Adams, Senior Vice President of Policy and Communication for Woodstock Institute.
Woodstock Institute and its allies seek a Consumer Bureau Director who will not be beholden to Wall Street or payday lenders. They hope to see the agency retain its initial purpose to protect consumers from financial predators, like those who caused the Great Recession.