t is still a big question mark how Kathy Kraninger, President Trump’s nominee to head the CFPB, will perform in Senate confirmation hearings. But the widely different reactions from Republican and Democratic lawmakers signal a contentious and drawn-out process. The White House last week officially sent the nomination of Kraninger to the Senate. The Senate Committee on Banking, Housing, and Urban Affairs will hold a hearing on the nominee, which could ...
A House Republican asked the CFPB to stop so- called regulation by enforcement and to clarify the use and role of the guidance it has issued. Rep. Blaine Luetkemeyer, R-MO, recently sent a letter to six agencies, including the CFPB, expressing concerns that guidance that does not go through notice-and-comment rulemaking has been used as the basis of enforcement actions. “Many of my colleagues and I hear frequently from financial institutions that guidance promulgated ...
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