PRESS RELEASE — President Donald Trump this week nominated Kathleen “Kathy” Kraninger as the new director of the Bureau of Consumer Financial Protection. Once confirmed by the Senate, Kraninger will replace the bureau’s Acting Director Mick Mulvaney, who also serves as director of the Office of Management and Budget (OMB). Trump named Mulvaney as acting director of the bureau last November when former Director Richard Cordray stepped down to run for Governor of Ohio.
“We think Ms. Kraninger is an excellent choice to lead the bureau and to continue Mr. Mulvaney’s pragmatic approach to ensuring consumers benefit from safe, affordable products provided by the consumer credit industry,” said Chris Stinebert, president and chief executive of the American Financial Services Association.
Kraninger currently serves as the OMB’s Associate Director for General Government, where she oversees the budget development and execution for a number of executive branch agencies, including the Departments of Commerce, Treasury, and Housing and Urban Development, among others.
Kraninger’s background includes the executive branch posts of deputy assistant secretary for policy at the Department of Homeland Security and advisor to the secretary for policy and assistant director of legislative affairs at the Department of Transportation.
Kraninger has also held professional staff positions on Capitol Hill with both the Senate and House Appropriations Subcommittees on Homeland Security, as well as with the Homeland Security and Governmental Affairs Committee.
To ensure a smooth transition process, Mulvaney will continue in the role of Acting Director until Kraninger is confirmed.
